The Indonesian Blockchain Association (ABI) officially revoked the membership of Binance and Huobi Indonesia. The two crypto asset exchanges have not yet received a list from the Indonesian Commodity Futures Trading Regulatory Agency (Bappebti).
Muhammad Deivito Dunggio, Chair of ABI on Thursday, July 23, 2020 said that the membership of Huobi Indonesia and Binance had been revoked at ABI. The two companies have not yet received a list from Bappebti as a Crypto Asset Physical Trader Candidate.
The decision was made to make the crypto asset trading ecosystem in Indonesia stronger. In accordance with Bappebti Regulation No. 5 of 2019.
Deivito said the two crypto asset exchanges were observed to be still operating in Indonesia, but were not yet registered by Bappebti. The dismissal decision was also submitted to Bappebti on Monday, July 20, 2020.
Deivito explained, the acceptance of new members was carried out with an open voting system. Every active member has the right to choose and determine the companies that will join as ABI members. This is to ensure that the admission of new members is carried out fairly and openly.
Author : Noval Irmawan
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