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Indonesia: crypto & digital assets regulation

Regulated

Indonesia: Dual VASP licensing under OJK (DFAs) and Bappebti (Physical Crypto); 2024-2025 regulatory shift

Lead regulator:
Otoritas Jasa Keuangan (OJK)
Key law:
Financial Sector Development and Strengthening Act (UU P2SK)
Last updated:
2026-07-12

Indonesia maintains a dual regulatory framework for digital assets, split between the Financial Services Authority (OJK) and the Commodity Futures Trading Supervisory Agency (Bappebti). The OJK regulates Digital Financial Assets (DFAs), which include crypto assets traded as financial instruments, while Bappebti oversees physical crypto asset trading on futures exchanges.

Recent 2024-2025 regulations have consolidated OJK's authority over DFAs and derivatives, requiring strict fit-and-proper assessments, business plans, and AML/CFT compliance. Bappebti continues to manage the approved list of physical crypto assets and futures trading guidelines, ensuring market integrity and legal certainty.

The regulatory direction emphasizes enhanced governance, operational transparency, and investor protection, with both regulators actively updating licensing requirements and asset eligibility lists throughout 2024 and 2025.

Who regulates

  • Otoritas Jasa Keuangan (OJK)

    Primary supervisor for Digital Financial Assets (DFAs) and crypto asset derivatives; issues licensing, fit-and-proper assessments, and AML/CFT rules.

    [1][2][3]

  • Badan Pengawas Perdagangan Berjangka Komoditi (Bappebti)

    Supervisor for physical crypto asset trading on futures exchanges; determines the list of eligible crypto assets and futures trading guidelines.

    [4][5][6]

Core laws & rules

  • Financial Sector Development and Strengthening Act (UU P2SK) (2024)

    Mandates the transfer of regulatory authority for Digital Financial Assets and Crypto Assets from Bappebti to OJK, establishing the legal basis for OJK's comprehensive oversight.

    [3][7]

  • OJK Regulation No. 27 of 2024 (2024)

    Establishes comprehensive rules for the organization of Digital Financial Asset trading, including licensing, operational standards, and supervision by OJK.

    [3]

  • Bappebti Regulation No. 11 of 2022 (as amended) (2022)

    Determines the list of crypto assets permitted for trading in the physical crypto asset market, subject to regular amendments by Bappebti.

    [4]

Licensing & registration

  • Digital Financial Asset (DFA) Trader License

    Required for entities trading DFAs (including crypto assets as financial instruments) under OJK supervision. Applicants must submit business plans, pass fit-and-proper assessments, and implement robust AML/CFT programs. Timeline: OJK Regulation No. 27 of 2024 and subsequent circulars (2024-2025) set detailed procedures and timelines for licensing and business plan submissions.

    [3][2][8][9]

  • Physical Crypto Asset Trader License

    Required for trading physical crypto assets on futures exchanges under Bappebti. Applicants must obtain final approval and comply with strict operational and reporting guidelines. Timeline: Bappebti Regulation No. 9 of 2024 and No. 8 of 2024 mandate final approval processes and updated trading guidelines.

    [6][10]

Restrictions & warnings

  • Only crypto assets listed in Bappebti's approved regulations (e.g., Reg. No. 1 of 2025, Reg. No. 2 of 2024) are permitted for physical trading. OJK-regulated DFAs must comply with strict AML/CFT, fit-and-proper, and business plan requirements.

    [4][2][9]

  • Digital Financial Asset derivatives are now under OJK jurisdiction, requiring separate licensing and compliance with OJK's organizational rules.

    [1]

Direction of travel

  • Regulators are actively refining the framework, with OJK expanding its oversight to derivatives and Bappebti updating asset lists and trading guidelines. The trend is towards stricter governance, transparency, and investor protection.

    [1][4][6]

Sources

  1. Amendment to Financial Services Authority Regulation Number 27 of 2024 Concerning the Organization of Digital Financial Asset Trading Including Crypto Assets · 2025-01-01
  2. OJK Regulation No. 16 of 2025 on Fit and Proper Assessment and Reassessment for Key Parties in the Financial Technology Innovation Sector, Digital Financial Assets, and Crypto Assets · 2025-01-01
  3. Regulation of the Financial Services Authority Number 27 of 2024 on the Organization of Digital Financial Asset Trading Including Crypto Assets · 2024-01-01
  4. Bappebti Regulation No. 1 of 2025 Regarding the Third Amendment to Regulation No. 11 of 2022 Concerning the Determination of the List of Crypto Assets Traded in the Physical Crypto Asset Market · 2025-01-09
  5. Instruction to Download PDF · 2024-10-28
  6. Bappebti Regulation No. 9 of 2024 on the Third Amendment to Regulation No. 8 of 2021 Regarding Guidelines for Physical Crypto Asset Trading on Futures Exchanges · 2024-10-16
  7. Implementation of Digital Financial Asset Trading Including Crypto Assets · 2024-01-01
  8. OJK Circular No. 34/SEOJK.07/2025 on Business Plans for Digital Financial Asset Trading Operators · 2025-01-01
  9. Implementation of Anti-Money Laundering, Counter-Terrorism Financing, and Counter-Proliferation Financing Programs for Digital Financial Asset Traders · 2025-01-01
  10. Instructions for Downloading PDF · 2024-08-16

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This guide is compiled automatically from 10 primary-source documents published by Indonesia's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.