Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Indonesia’s Commodities Regulator Bappebti Endorses Crypto Exchange Zipmex

Indonesia’s Commodities Regulator Bappebti Endorses Crypto Exchange Zipmex

Kelly Cromley by Kelly Cromley
Mar 10, 2020
in Legislation News, Market News, News
Reading Time: 2 mins read
0

Bappebti, regulator of Indonesia’s commodity futures trading, has approved Zipmex, a cryptocurrency trading platform provider.

Notably, Zipmex has received approval from regulators of several countries in the Asia-Pacific region, including Thai and Australian authorities.

Yimwilai, chief legal officer of Zipmex, detailed how the exchange intends to comply with various regulations across the region.

“Even though each jurisdiction has its own sets of rules and regulations, they are rooted in core principles of good corporate governance, strong custody solutions and comprehensive KYC/AML [Know Your Customer and Anti-Money Laundering] policies.”

In spite of “nuances and small differences,” the regulators in the Asia-Pacific region more or less follow similar rules, as per Yimwilai.

Even if there are any deviations, Yimwilai believes that it could be used to improve overall compliance criteria:

“Operating across multiple regions has allowed us to adopt the best practice from each particular region. For example, we adopt AML policies that satisfies AUSTRAC, the Australian regulator that regulates money laundering. In addition, SEC Thailand requires institutional-grade custody solutions of digital assets, which we then use in all of the markets that we operate in.”

All cryptocurrency exchanges, as of February 2020, functioning in Indonesia have to compulsorily enroll themselves with Bappebti to lawfully offer cryptocurrency trading facilities.

In order to get approval from the regulator, a firm should demonstrate that effective safety, risk handling protocols are in place, in addition to an efficient transaction platform.

Criteria to be met by cryptocurrency exchanges for registration with Bappebti are portion of a wider legislative framework for cryptocurrencies, which were categorized as tradable commodities last year.

In 2019, Zipmex started making inroads with its Indonesian platform by collaborating with the Indonesian interbank network ALTO to improve it banking and payment framework.

After facilitating more than $35 million worth Bitcoin (BTC) trades, Zipmex is concentrating on providing easy onboarding for Rupiah, Indonesia’s national currency.

Lim believes that support for crypto by onboarding Rupiah will pave way for financial inclusion in the country.

In addition to Rupiah, the cryptocurrency exchange backs fiat-to-crypto pairs based on the US, Singaporean and Australian dollars.

Zipmex has enrolled itself with Monetary Authority of Singapore to offer crypto related services in the country.

The company is also preparing itself to apply for a digital payment token license under the country’s Payment Services Act.

The cryptocurrency exchange is currently focused on Asia-Pacific region even though it is looking to expand worldwide in the future.

Zipmex aims to become a leader in the four markets it operates currently. Bitfury’s blockchain analytics platform Crystal has mentioned that Indonesia is one of those countries with very less presence of cryptocurrency exchanges, supporting Zipmex’ claim that it is the first to operate officially in Indonesia.

On the other hand, Singapore, along with the UK, Hong Kong and the US, tops the list of countries with numerous authorized providers of cryptocurrency trading platforms.

Previous Post

Financial Service Provider Morning Star Rates Security Issued via Ethereum Blockchain

Next Post

IOTA Network Goes Live A Month After Trinity Wallet Hacking Incident

Related Posts

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets

by Kelly Cromley
Jun 24, 2025
0

Mantra, a Layer-1 blockchain focused on real-world assets (RWA), has confirmed that Lympid, a platform specializing in the issuance and...

guinevere-capital-partners-with-polemos

Guinevere Capital Partners with Polemos to Boost Web3 Gaming

by Kelly Cromley
Jun 24, 2025
0

Guinevere Capital, a well-established investment firm known for its focus on esports and gaming ventures, has confirmed a strategic partnership...

D'CENT Wallet

D’CENT Expands Web3 Reach with Taiko Partnership

by Kelly Cromley
Jun 24, 2025
0

D’CENT, a pioneer in biometric hardware wallets, has introduced Ethereum Layer-2 solution Taiko as the third featured partner in its...

chromia-partners-with-tac

Chromia and TAC Join Forces to Power Decentralized Telegram Apps

by Kelly Cromley
Jun 24, 2025
0

Chromia has formalized a strategic collaboration with TAC, a purpose-built Layer-1 network focused on resolving compatibility challenges between Ethereum Virtual...

fiserv

Fiserv Enters Stablecoin Arena with FIUSD Launch Plan

by Kelly Cromley
Jun 24, 2025
0

Global financial technology firm Fiserv has revealed plans to introduce its own stablecoin, FIUSD, along with a supporting digital asset...

Midnight Network

Midnight Network Rolls Out Glacier Drop Airdrop to Millions

by Kelly Cromley
Jun 24, 2025
0

Midnight Network, a privacy-oriented blockchain built on the Cardano infrastructure, has announced an expansive airdrop campaign known as the Glacier...

Next Post
IOTA Network Goes Live A Month After Trinity Wallet Hacking Incident

IOTA Network Goes Live A Month After Trinity Wallet Hacking Incident

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025
  • Blockchain Based Sports Platform SportsMint Unveiled

    by Kelly Cromley
    Apr 30, 2024

Recent News

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets
Market News

Lympid Joins Mantra’s Accelerator to Tokenize Luxury Assets

by Kelly Cromley
Jun 24, 2025
guinevere-capital-partners-with-polemos
Market News

Guinevere Capital Partners with Polemos to Boost Web3 Gaming

by Kelly Cromley
Jun 24, 2025
D'CENT Wallet
Market News

D’CENT Expands Web3 Reach with Taiko Partnership

by Kelly Cromley
Jun 24, 2025
chromia-partners-with-tac
Market News

Chromia and TAC Join Forces to Power Decentralized Telegram Apps

by Kelly Cromley
Jun 24, 2025
fiserv
Market News

Fiserv Enters Stablecoin Arena with FIUSD Launch Plan

by Kelly Cromley
Jun 24, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree