Crypto Exchange Zipmex Gets Green Light from Indonesian Regulator

Zipmex, a Singapore-headquartered digital asset exchange, has registered itself with Indonesia’s Commodity Futures Trading Regulator (Bappebti), to operate under the purview of the southeast Asian country’s watchdog.

This came following the Indonesian regulator’s decision last month to mandated all crypto exchanges to register themselves to offer services in the country.

The new rules also require the exchanges to maintain some operational standards, including risk control management, security, and transaction systems.

Mentioning the development, Marcus Lim, co-founder and CEO of the exchange, said: “Since inception Zipmex has continually been looking at ways to legitimize its offering in the digital asset space and work with regulators wherever possible. Zipmex is now one of the first companies in Indonesia to be officially registered as a crypto trading service provider.”

Zipmex is already operating in Indonesia since last year, partnering with Indonesian interbank network ALTO. Per the announcement, the exchange handled over $35 billion in Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term trades since its launch in the country.

Registration with the regulator will now allow the exchange to offer trading against Indonesian fiat.

“Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term is key to adoption - it brings credibility and legitimacy to the digital assets industry at a time when digital currencies and securities are emerging as an asset class for the unbanked as well as traditional investors. Zipmex has been established with all parties in mind, offering a fast, secure and safe trading environment,” Lim added.

Targeting Southeast Asia

In January, Zipmex also obtained an operational license from Thailand’s Securities and Exchange Commission (SEC) to become one of the few regulated exchanges in the country and is also operating in Australia under the purview of the Australian Transaction Reports and Analysis Centre (AUSTRAC).

The exchange is also applying for a license in Singapore under the newly introduced Payment Services Act.

Zipmex sees potential for the crypto industry in the Southeast Asian countries and is putting efforts to expand in the region. It is also aiming to enter Vietnam - a massive market also being targeted by crypto giants, including Binance.