Regulatory AlertsRegulation of the Financial Services Authority Number 17 of 2025 on the Offer of Securities Through Information Technology-Based Crowdfunding Services
The Indonesian Financial Services Authority (OJK) issued Regulation No. 17 of 2025 to update the regulatory framework for information technology-based crowdfunding services, replacing the previous 2020 regulation. This new regulation implements mandates from the Financial Sector Development and Strengthening Law (UU P2SK) to enhance transparency, governance, investor protection, and the legal basis for licensing and supervision. It establishes comprehensive requirements for service organizers, issuers, and investors, while defining business activities, risk mitigation, and organizational obligations.
Regulation of the Financial Services Authority Number 17 of 2025 concerning the Offer of Securities Through Information Technology-Based Crowdfunding Services
Abstract:
In light of the rapid development in the number of actors and fund mobilization through Information Technology-Based Crowdfunding Services, it is necessary to improve the quality of the Crowdfunding Service industry.
Chapter V Article 22 in Article 69A and Article 69B paragraphs (2) and (4) of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK) has mandated and regulated provisions regarding Crowdfunding Services that require follow-up through adjustments to the provisions in the Financial Services Authority Regulation Number 57/POJK.04/2020 concerning the Offer of Securities Through Information Technology-Based Crowdfunding Services.
The formulation of this Financial Services Authority Regulation is carried out in the context of improving the quality of transparency, supervision, and governance aspects of Crowdfunding Service Organizers and Issuers, adjusting provisions related to Crowdfunding Services, and implementing the authority of the OJK in accordance with the UU P2SK, enhancing investor protection, and serving as a strengthening of the legal basis and more comprehensive reference regarding the licensing process of Organizers and the supervision of Crowdfunding Service activities.
The legal basis for this Financial Services Authority Regulation is: Law No. 8 of 1995 as amended by Law No. 4 of 2023 and Law No. 21 of 2011 as amended by Law No. 4 of 2023.
This Financial Services Authority Regulation regulates, among other things, the business activities and institutional structure of Organizers, Organizer licensing, assessment of the competence and propriety of key parties of the Organizer, obligations and prohibitions of Organizers, the mechanism for offering securities through Information Technology-Based Crowdfunding Services, requirements for Issuers, requirements for Investors, Crowdfunding Service agreements, risk mitigation, and Organizer associations.
Note:
This Financial Services Authority Regulation comes into force on the date of its promulgation.
This Financial Services Authority Regulation was promulgated on July 25, 2025, and established on July 11, 2025.
At the time this Financial Services Authority Regulation comes into force, the Financial Services Authority Regulation Number 57/POJK.04/2020 concerning the Offer of Securities through Information Technology-Based Crowdfunding Services as amended by the Financial Services Authority Regulation Number 16/POJK.04/2021 concerning Amendments to the Financial Services Authority Regulation Number 57/POJK.04/2020 concerning the Offer of Securities through Information Technology-Based Crowdfunding Services is repealed and declared invalid.