Heaptalk, Jakarta — Indonesia’s cryptocurrency market has experienced a remarkable surge in trading activity following the transition of regulatory oversight from the Commodity Futures Trading Regulatory Agency (CoFTRA) to the Financial Services Authority (OJK) on January 10, 2025. According to the latest data from OJK, the transaction value of crypto assets reached US$269 million or around Rp44.07 trillion in January 2025, marking a staggering 104.31% increase compared to January 2024, when the figure stood at Rp21.57 trillion.
Hasan Fawzi, Chief Executive of Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets at OJK, highlighted the seamless transition and its positive impact on public interest in crypto investments. “The shift in regulatory oversight has been smooth and has significantly bolstered public confidence in crypto assets. We are committed to ensuring appropriate regulations to sustain this healthy and sustainable growth,” Fawzi stated during the OJK Board of Commissioners’ meeting in February 2025.
Currently, around 1,396 crypto assets are tradable in Indonesia. OJK has also granted licenses to 19 entities operating within the crypto asset ecosystem, comprising one crypto exchange, clearing institution, custodian, and 16 crypto asset traders. Additionally, OJK is processing licensing applications for 14 prospective crypto asset traders, further expanding the market’s infrastructure.
OJK has established a Working Group in collaboration with CoFTRA under OJK Board of Commissioners Decision No. Cap 3/D07-2025 to ensure market security and stability. This team coordinates regulations, licensing, supervision, and transferring documents and information from CoFTRA to OJK.
OJK is also drafting cybersecurity guidelines for digital financial asset and crypto asset traders in a bid to enhance system resilience and safeguard the digital asset ecosystem from cyber threats.
Wan Iqbal, Chief Marketing Officer of Tokocrypto, emphasized the positive implications of the regulatory shift to OJK, particularly regarding regulatory clarity and investor protection. “The comprehensive regulatory framework and stringent oversight by OJK have significantly strengthened investor confidence. This is evident in the increased trading volumes on platforms like Tokocrypto,” Iqbal noted.
He added that the more transparent regulatory environment has opened doors for innovation in developing new products and services. “We are optimistic that the industry will continue to grow sustainably, driven by regulatory certainty and innovations aligned with higher financial standards,” Iqbal explained.
The transition to OJK oversight marks a pivotal moment for Indonesia’s crypto asset market, fostering an environment of trust, innovation, and growth. With robust regulatory frameworks and a focus on cybersecurity, the nation is poised to become a key player in the global digital asset landscape. This growth trajectory enhances investor confidence and positions Indonesia as a sustainable and innovative financial technologies hub.
