Crypto Asset Trading in Indonesia Surges Following Regulatory Shift to OJK
Crypto asset trading in Indonesia has experienced a significant surge following the transfer of regulatory oversight from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK) on January 10, 2025. According to the latest OJK data, crypto transaction values reached IDR 44.07 trillion in January 2025, marking a 104.31% increase compared to January 2024 (IDR 21.57 trillion). Hasan Fawzi, Chief Executive for Supervision of Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets at OJK, stated that the regulatory transition has been seamless and has positively impacted public interest in crypto investments. Currently, 1,396 crypto assets are tradable in Indonesia. OJK has also licensed 19 entities in the crypto trading ecosystem, including one crypto exchange, one clearing institution, one custodial service provider, and 16 crypto asset traders. Additionally, 14 prospective crypto traders are undergoing licensing rev...