Regulatory Brief: OJK Strengthens Indonesia's Crypto Trading Future
Read Time: 7 minutes
Early this year, Indonesia's Financial Services Authority (Otoritas Jasa Keuangan – OJK) marked a significant shift in regulatory oversight. Regulation No. 27 of 2024 (Regulation 27/2024) on the Implementation of Digital Financial Asset Trading Including Crypto Assets, will come into force on January 10, 2025. This regulation transfers authority from the Commodity Futures Trading Regulatory Agency (Bappebti) to the OJK.
Key Focus Areas
The following highlights some of the key points. For full and detailed information on the regulation, you can read the complete text here.
1. Capital Requirements
Entities involved in digital financial asset trading must meet minimum capital requirements to obtain licenses. Key updates include:
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Exchanges – Rp. 1 trillion in paid-up capital with 80% maintained as equity.
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Clearing and Settlement Institutions – Rp. 500 billion in paid-up capital.
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Custodians – Rp. 250 billion in paid-up capital.
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Traders – Rp. 100 billion in paid-up capital, with Rp. 50 billion in maintained equity.
Funding sources must also comply with OJK Regulation (POJK) No. 8 of 2023 on the Implementation of Anti-Money Laundering (AML), Counter-Terrorist Financing (CFT), and Counter-Proliferation Financing of Weapons of Mass Destruction (CPF).
2. Trader Obligations
The regulation updates obligations for digital asset traders. Core responsibilities include:
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Approval for Changes – Traders must seek OJK approval for changes in management, ownership, or trading systems.
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Transparency and Reporting – Real-time recording of transactions, periodic reporting, and read-only access for OJK supervision.
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Consumer Protection – Clear asset segregation between consumer and trader assets, with accurate asset records aligned to consumer holdings.
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Education and AML Programs – Traders must conduct public literacy programs and adhere to AML, CFT, and CPF standards.
3. Consumer Onboarding
The onboarding process differentiates between individual and non-individual consumers:
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Non-individual entities must hold valid business licenses, be domiciled in Indonesia, and engage in trading solely for investment purposes.
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Funds must originate from the entity’s resources, not third parties or illicit sources.
Traders are restricted to opening one account per consumer and the personal identification must be verified through regulatory technologies (e.g. biometric verification and online onboarding systems) in cooperation with the Ministry of Home Affairs.
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