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OJK 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.
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Financial Services Authority Circular
Number 21/SEOJK.07/2025 regarding
Fit and Proper Assessment and Reassessment for Principal Parties in the Financial Technology Innovation Sector, as well as Digital Financial Assets and Crypto Assets.


Abstract:
With the enactment of the Financial Services Authority Regulation Number 16 of 2025 regarding Fit and Proper Assessment and Reassessment for Principal Parties in the Financial Technology Innovation Sector, as well as Digital Financial Assets and Crypto Assets (State Gazette of the Republic of Indonesia Year 2025 Number 22/OJK, Additional State Gazette of the Republic of Indonesia Number 152/OJK), it is necessary to further regulate the implementation provisions related to fit and proper assessment and reassessment for candidates for controlling shareholders, candidates for members of the board of directors, and candidates for members of the board of commissioners in the financial technology innovation sector, as well as digital financial assets and crypto assets in the Financial Services Authority Circular (SEOJK).


The legal basis for this SEOJK is POJK No. 16 of 2025.


In this SEOJK, regulations are provided regarding Fit and Proper Assessment and Reassessment of Principal Parties in the Financial Technology Innovation Sector, as well as Digital Financial Assets and Crypto Assets:


I General Provisions
II Fit and Proper Assessment


    

  1. Scope of Parties Subject to Fit and Proper Assessment
    2. 

  2. Requirements in Fit and Proper Assessment
    3. 

  3. Application Procedures and Administrative Requirements
    4. 

  4. Procedures for Conducting Fit and Proper Assessment of Principal Parties
    5. 

  5. Termination of Fit and Proper Assessment of Principal Parties
    6. 

  6. Procedures for Determining the Results of Fit and Proper Assessment and Consequences for Principal Parties
    7. 



III Reassessment of Principal Parties


    

  1. Scope of Reassessment of Principal Parties
    2. 

  2. Procedures for Reassessment
    3. 

  3. Final Results of Reassessment of Principal Parties
    4. 

  4. Consequences of the Final Results of Reassessment of Principal Parties and Requests for Review
    5. 



IV Submission of Documents and Reporting


    

  1. Submission of Documents for Fit and Proper Assessment and Reassessment of Principal Parties
    2. 

  2. Reporting related to the results of Fit and Proper Assessment and Reassessment of Principal Parties
    3. 



V Closing


Notes:
This SEOJK takes effect on October 1, 2025.
This SEOJK was established on September 29, 2025.
Upon the effective date of this SEOJK, item IV Fit and Proper Assessment and item V Reassessment of Principal Parties, Appendix III, and Appendix IV of the Financial Services Authority Circular Number 20/SEOJK/07/2024 regarding the Conduct of Trading of Digital Financial Assets including Crypto Assets, are revoked and declared invalid.


This SEOJK consists of:
Appendix I: 38 pages.
Appendix II: 2 pages.
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