Regulatory AlertsOJK Circular No. 21/SEOJK.07/2025 on Fit and Proper Assessment and Reassessment for Principal Parties in the Financial Technology Innovation Sector, Digital Financial Assets, and Crypto Assets
The Financial Services Authority (OJK) issued Circular No. 21/SEOJK.07/2025 to implement the execution provisions of POJK No. 16 of 2025 regarding the Fit and Proper Assessment and Reassessment for principal parties in the financial technology innovation sector, digital financial assets, and crypto assets. This circular establishes detailed procedures, administrative requirements, and consequences for candidates for controlling shareholders, directors, and commissioners, while also revoking specific assessment provisions from the previous OJK Circular No. 20/SEOJK/07/2024. The regulation became effective on October 1, 2025, following its issuance on September 29, 2025, to ensure strict compliance and governance standards within the specified financial sectors.