With the rapid growth of digital financial assets such as cryptocurrencies, the Indonesian government has proactively established a comprehensive legal framework aimed at strengthening regulatory oversight, ensuring market integrity, and protecting investors. Since 2021, crypto assets were classified as a digital intangible commodity and the trading was regulated and supervised by the Commodity Futures Trading Regulatory Agency (Badan Pengawas Perdagangan Berjangka Komoditi, or "Bappebti"). However, with the enactment of the Financial Sector Development and Strengthening Law in 2023 (Law No. 4 of 2023, or "PPSK Law"), crypto assets are now recognized as digital financial assets. As of January 10, 2025, the regulation and supervision of crypto assets have been transferred to the Financial Services Authority (Otoritas Jasa Keuangan, or "OJK") with related activities categorized under Technology Innovation in the Financial Sector (Inovasi Teknologi Sektor Keuangan, or "ITSK"). The reclassification of crypto assets under financial sector regulation introduces new regulatory considerations, likely influencing market behavior and governance while shaping the roles of participants and oversight authorities.

26F, Grand Central A, 14 Sejong-daero, Jung-gu, Seoul T. +82-2-6200-1600 E. master@jipyong.com

Subscribe | Unsubscribe

Seoul | Suncheon | Busan | Shanghai | Ho Chi Minh City | Hanoi | Jakarta | Phnom Penh | Vientiane | Yangon | Moscow | Budapest

This message was prepared for our clients for the purpose of providing real-time updates on general legal information only, and should not be relied on as legal advice or the opinion of the firm. Please contact the relevant authors for further information regarding an article's contents.

ⓒ JIPYONG LLC. ALL RIGHTS RESERVED.