Starting January 12, 2025, the new OJK Crypto Regulation will officially take effect, marking a significant shift in how cryptocurrency is managed in Indonesia.
The OJK will assume responsibility for overseeing the crypto market, replacing Bappebti’s role, as part of a broader effort to strengthen digital asset regulations.
Mandated by the Financial Sector Development and Strengthening Law (UU PPSK), this transition empowers OJK to implement stricter oversight of cryptocurrency activities.
The new framework aims to enhance transparency, boost security, and ensure compliance, addressing critical concerns such as money laundering and illegal online gambling in the fast-growing cryptocurrency sector.
Why is OJK Taking Over Crypto Regulation in 2025?
The OJK is stepping in to regulate cryptocurrency in Indonesia to address rapid growth and complexity of digital assets.
The Financial Sector Development and Strengthening Law (UU PPSK) mandates this shift, transferring authority from Bappebti to the OJK.
Previously, Bappebti focused on commodities trading, but cryptocurrency’s unique challenges require a regulatory body with broader oversight capabilities.
The OJK aims to create a safer and more transparent crypto market by assuming control.
Addressing key risks like money laundering and illegal activities will be a top priority.
Executive Head of Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets Supervision at OJK, Hasan Fawzi, expressed his concern about the issue.
“Money laundering and crimes related to cryptocurrency are the biggest challenges, and we will collaborate with the Financial Transaction Reports and Analysis Center (PPATK) to address them,” said Hasan during a Focus Group Discussion with media editors in Jakarta on Friday (November 15) as reported by CNN Indonesia.
This collaboration highlights OJK’s commitment to tackling financial crimes while strengthening investor protections, enhancing market stability, and ensuring compliance with global best practices.
Key Changes in OJK Crypto Regulation 2025
The OJK Crypto Regulation 2025 brings major reforms to boost transparency and security within Indonesia’s cryptocurrency sector.
One of the most significant changes in the OJK Crypto Regulation 2025 is the introduction of a reporting information system.
This system will allow OJK to monitor crypto transactions in real-time, making compliance more effective and accountability stronger.
By addressing these challenges, OJK aims to build investor trust and create a safer environment for businesses
To facilitate a seamless transition, OJK intends to incorporate existing procedures from Bappebti and acknowledge all licenses previously granted by the agency.
“We will adopt the procedures set by Bappebti. Licenses already issued by Bappebti will be automatically honored by OJK, eliminating the need for any reapplication,” said Hasan Fawzi, Executive Head of Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets Supervision at OJK, during a Focus Group Discussion with journalists at St. Regis, Jakarta, on Friday, November 15 as reported by Kumparan.com
These actions emphasize OJK’s dedication to minimizing disruption for stakeholders while implementing a more robust regulatory framework.
By utilizing current systems and improving oversight capabilities, OJK aims to foster a safer and more transparent crypto environment in Indonesia.
Impact on Investors and Businesses
The OJK Crypto Regulation 2025 is anticipated to present both advantages and obstacles for investors and businesses in Indonesia’s cryptocurrency sector.
Positively, OJK’s increased supervision and improved reporting frameworks aim to foster a safer, more transparent environment.
Investors will gain from stronger defenses against fraud and financial crimes, which should enhance market confidence.
For businesses, transitioning from Bappebti to OJK ensures regulatory stability, as existing licenses will still be valid.
This alleviates the need for reapplication, minimizing administrative burdens. However, companies must adapt to OJK’s new compliance standards, including more rigorous reporting and enhanced measures to combat illegal activities like money laundering.
Moreover, the change in oversight offers businesses a chance to align with international norms, possibly attracting global investments and partnerships.
Nonetheless, companies will need to establish robust compliance systems to meet OJK’s criteria.
By navigating these challenges and opportunities, stakeholders can set themselves up for success in this changing regulatory environment.
Preparing for the Future of Digital Assets
The new OJK Crypto Regulation in 2025 marks a pivotal step in shaping a safer and more transparent cryptocurrency landscape in Indonesia.
By adopting existing frameworks and introducing stronger oversight measures, OJK is addressing the unique challenges of digital assets while fostering investor confidence and market stability.
As the January 2025 deadline approaches, stakeholders are encouraged to stay informed and prepare for the new regulatory environment.
With its proactive approach, OJK aims to not only protect the domestic market but also position Indonesia as a leader in responsible cryptocurrency regulation on the global stage.
Source: CNN Indonesia, Kumparan.com
Image: Shutterstock (Fidal Furqon)
