Indonesia Transfers Crypto Oversight to OJK Boosting Consumer Protection

In 2025, Indonesia underwent a significant shift in its regulatory framework for cryptocurrencies, transitioning oversight from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK). This move was part of a broader effort to enhance consumer protection and foster a more secure environment for crypto trading. The OJK issued licenses for Digital Financial Assets (DFA) traders, with 19 licenses granted and 11 more in the process. This initiative included a comprehensive framework for licensing DFA exchanges, clearing, guarantee, settlement institutions, and custodians for digital assets under OJK supervision.

On January 10, 2025, Government Regulation No. 49 of 2024 and OJK Regulation No. 27 of 2024 were implemented, marking the official transition of crypto asset supervision to the OJK. The new regulations outlined minimum paid-up capital and equity requirements, detailed guidelines for onboarding customers, and implemented a new tax regime for crypto assets, subjecting them to both income tax and value-added tax. The OJK also introduced Digital Financial Asset Trading, which included licensing, transition of applications, updates to the crypto asset whitelist, and an adjustment period.

From January 1 to 6, 2025, new crypto tax regulations were introduced. The value-added tax (VAT) was increased to 0.11% of the transaction value for registered exchange platforms, while unregistered platforms faced a doubled VAT rate of 0.22%. Crypto mining was also subject to tax, with a rate of up to 0.1%.

The Indonesian government is actively working on enhancing consumer protection facilities to foster a more secure and stable environment for crypto trading. The implementation of OJK supervision aims to help the public better understand the opportunities and risks involved in crypto investments. This initiative also indicates a move towards treating cryptocurrencies as financial instruments alongside traditional assets, aiming to bring greater clarity and stability to the crypto market. With stricter regulation under OJK, Indonesia is aiming to boost transparency and fraud prevention, which could help mitigate risks in the crypto space. The OJK also introduced a regulatory sandbox, a testing environment for new financial technologies, including crypto, signaling the government's embrace of innovation.

OJK reclassified crypto assets as digital financial assets under new terms to regulate licensing. It also changed Bappebti’s authority to issue the list of crypto assets that could be traded on crypto platforms and gave the authority to the DFA. DFA issued its first list in April 2025, which contained 1,444 crypto assets, marking an increase from Bappebti’s listing of 851. Companies previously licensed under Bappebti will automatically be recognized as licensed Digital Financial Asset Trading Providers. However, a reapplication is necessary after which the DFA traders can provide the whitelist of crypto assets. A grace period till July 2025 is given to fully comply with new requirements. The minimum paid-up capital of 100 billion rupiah and minimum equity of 50 billion rupiah requirement is retained from Bappebti’s authority, while four new key changes are introduced under OJK: a Fit and Proper Test for board members, shareholders, and controlling shareholders; DFA traders are to store transaction data and financial records for at least ten consecutive years; requirements for data protection measures are to be followed; and stricter restrictions for DFA members– they cannot hold positions as members of the BOC or BOD. If the regulations are abused, OJK has the authority to revoke the licenses.

Beginning from January 2025, Indonesia has implemented a set of crypto taxes along with guidance on penalties. Delay in filing can result in a fixed penalty and interest charges of 2% per month, up to 24 months. The VAT rate for registered exchanges is 0.12%, and for unregistered exchanges, it is higher. The final income tax (PPh) for registered exchanges is 0.1%, and for unregistered exchanges, it is 0.2%. Mining is subject to a VAT of 1.1% and an income tax of 0.1%.

Crypto adoption in Indonesia has seen significant growth, with 14.6 million crypto investors in the country, ranking third in global adoption in Q1 2025. This is an increase of up to 3.28% from the previous year’s adoption rate. The user penetration rate is predicted to be 16.56% in 2025 and is projected to increase to 16.98% by 2026. Popular coins like USDT, BTC, DOGE, PEPE, and XRP are driving much of the transaction volume in Indonesia. If these regulations and security measures are preserved, Indonesia may position itself as a crypto leader in Southeast Asia in the near future.