{"id":71648,"date":"2022-12-19T15:19:36","date_gmt":"2022-12-19T13:19:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71648"},"modified":"2025-09-08T10:16:06","modified_gmt":"2025-09-08T07:16:06","slug":"binance-increases-investment-in-indonesias-regulated-tokocrypto-cryptocurrency-exchange","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-increases-investment-in-indonesias-regulated-tokocrypto-cryptocurrency-exchange\/","title":{"rendered":"Binance increases investment in Indonesia&#8217;s regulated Tokocrypto cryptocurrency exchange"},"content":{"rendered":"<p>Binance has increased its investment in Tokocrypto \u2014 Indonesia\u2019s regulated cryptocurrency exchange. This was announced by the company\u2019s CEO, Changpeng Zhao.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Binance was the majority shareholder of Toko from the beginning. Just injected more cash and increased our shareholding a bit. <a href=\"https:\/\/t.co\/NIeYYxzPdU\">pic.twitter.com\/NIeYYxzPdU<\/a><\/p>\n<p>\u2014 CZ \ud83d\udd36 Binance (@cz_binance) <a href=\"https:\/\/twitter.com\/cz_binance\/status\/1604802854400790530?ref_src=twsrc%5Etfw\">December 19, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cBinance has been the majority shareholder of Toko from the very beginning. It simply put more money in and slightly increased its stake,\u201d Zhao wrote.<\/p>\n<\/blockquote>\n<p>In this way he refuted the Indonesian subsidiary <a href=\"https:\/\/www.coindesk.id\/berita\/tokocrypto-resmi-diakuisisi-binance-2\">CoinDesk<\/a>&#8216;s report about Tokocrypto&#8217;s acquisition. The outlet also noted that the platform\u2019s CEO Pan Xue Kai would step down \u2014 his duties would allegedly be performed by Yudho Ravis.<\/p>\n<p>Media also cited the latter on layoffs at Tokocrypto and clarified that the downsizing would affect about 58% of the staff. A Binance spokesman confirmed to ForkLog that there were layoffs, but did not provide a precise figure.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201c[\u2026] downsizing has been the most difficult step for Tokocrypto. While painful, it is a necessary decision from the team\u2019s perspective, and we hope our stakeholders understand its justification. In the coming weeks Tokocrypto will focus on continuing to work with Binance as our shareholder to develop long-term goals and strategies,\u201d the statement said.<\/p>\n<\/blockquote>\n<p>A Binance spokesperson added that the Indonesian company would provide support to the laid-off employees.<\/p>\n<p>In 2020 Binance invested an undisclosed amount in Tokocrypto. The funds at the time were intended to be used to expand services and product lines, upgrade technology, expand domestically, and implement blockchain-education initiatives in the region.<\/p>\n<p>In May 2021 Tokocrypto conducted a TKO token sale on the Binance platform. Over the past 24 hours the asset rose 39.5% (<a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>).<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/kmFO2MqvZ_dR7SDk30pm8eNgz-6IccYTkbOnb663gMCqlR19PRYh3NS6b9CFHAKanFBQ3TUn_7exbXSNOmFHgmkB2-yVQKhlX6DsdDRzgrgg3xzDlr_WZXSWAypZIHT1buDJxVYT-aHVoQ-6Qu-Z3CGlu_8MjUO_SXtbn1PW9oFvnj9zizeIdxQlZVFqqQ\" alt=\"Binance increased investments in the regulated Indonesian Bitcoin exchange\"\/><figcaption>Hourly chart of TKO\/USDT on Binance. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/TKOUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>As of 1 May 2022 in Indonesia <a href=\"https:\/\/u1f987.com\/en\/news\/indonesia-to-impose-vat-and-income-tax-on-cryptocurrency-transactions\">is charged<\/a> VAT on crypto-asset transactions and capital gains tax on such investments at rates of 0.1% in both cases.<\/p>\n<p>The legislation treats digital currencies as exchange-traded commodities, but prohibits their use as a means of payment.<\/p>\n<p>In September authorities announced plans to <a href=\"https:\/\/u1f987.com\/en\/news\/indonesia-to-launch-a-state-backed-bitcoin-exchange\">launch a state Bitcoin exchange<\/a> by the end of 2022.<\/p>\n<p>Read ForkLog\u2019s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance increased its investment in Tokocrypto \u2014 Indonesia\u2019s regulated cryptocurrency exchange. This was announced by the company&#8217;s CEO, Changpeng Zhao.<\/p>\n","protected":false},"author":1,"featured_media":71649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Binance increases investment in Tokocrypto, Indonesia's regulated crypto exchange.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,1166,1530,52],"class_list":["post-71648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-centralized-exchanges-cex","tag-indonesia","tag-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"Binance increases investment in Tokocrypto, Indonesia's regulated crypto exchange.","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=71648"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71648\/revisions"}],"predecessor-version":[{"id":71650,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71648\/revisions\/71650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/71649"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=71648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=71648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=71648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}