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After being expelled by Indonesian authorities, Binance can legally operate in Indonesia.
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While the crypto winter can be difficult for some, it is not unbearable to others.
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However, other businesses are enjoying the colder weather.
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Binance plans to take advantage of the market conditions and expand into Asia by purchasing its third licensed cryptocurrency exchange.
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Binance, which became the majority shareholder in the Indonesian cryptocurrency exchange Tokocrypto on Dec. 19, confirmed its decision to appoint a new CEO after the resignation of Pang Xue Kai (its founder and former CEO).
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CNBC Indonesia reported that Binance intends to buy all Tokocrypto shares gradually to operate legally in Indonesia.
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The exchange already has all regulatory permits from Commodity Futures Trading Regulatory Agency.
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It is important to mention that Binance has invested in Tokocrypto since 2020.