Indonesia approves $70 million-backed ICEx as the country's second official crypto exchage.
TL;DR
Indonesia's Financial Services Authority has licensed ICEx as the second official crypto exchange, backed by $70 million in funding, to enhance market oversight and ecosystem health.
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PANews reported on January 12th, citing Techinasia, that Indonesia's financial regulator, the Financial Services Authority (OJK), has granted International Crypto Exchange (ICEx) a license, allowing it to operate as the country's second official cryptocurrency exchange. Headquartered in Indonesia, ICEx has secured approximately 1 trillion Indonesian Rupiah (US$70 million) in strategic funding from shareholders, including local cryptocurrency and digital asset companies. ICEx will be responsible for market transaction reporting, overseeing market integrity, regulating members, and coordinating with the regulator. With two official cryptocurrency exchanges currently operating in Indonesia, the OJK stated that this is crucial for building a healthy ecosystem.