I have never heard that crytpocurrencies are regulated in Timor-Leste. But it is good that cryptocurrency are regulated in small country but it is not regulated in big countries.
Timor-Leste is a very small country with a population a litle bit more then 1 mln. people. That is why no wonder that you did not hear that cryptocurrency is regulated in this country.
It is very good that Invech is a Licensed Crypto Exchange that has many licenses to work. The rights of traders will be more guaranteed.