TEMPO.CO, Jakarta - Indonesia’s cryptocurrency market has experienced a sharp rise following the shift in regulatory oversight from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK) on January 10. According to OJK data, crypto transactions in January 2025 reached Rp44.07 trillion, a 104.31% increase from Rp21.57 trillion in the same month last year.

Hasan Fawzi, OJK chief executive for Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets Supervision, said that the transition has gone smoothly and contributed to rising public interest in crypto investments.

“We will continue implementing the right regulations to ensure this growth remains stable and sustainable,” he said in an official statement Tempo received on March 6.

Currently, 1,396 cryptocurrencies can be traded in Indonesia. OJK has also granted licenses to 19 entities in the crypto trading ecosystem, including one crypto exchange, one clearing institution, one custodian manager, and 16 crypto asset traders.

OJK is also reviewing licenses for 14 additional crypto traders. To maintain market stability, the agency has established a Working Group with Bappebti under Commissioner Council Decision No. Cap 3/D07-2025, tasked with coordinating regulations, overseeing licensing, and managing the transfer of documents from Bappebti to OJK.

Additionally, OJK is drafting cybersecurity guidelines for digital financial and crypto asset traders to enhance security and protect the ecosystem from cyber threats.

Investors More Confident Under OJK Oversight

Tokocrypto CMO Wan Iqbal said OJK’s involvement has brought regulatory clarity and strengthened investor protection, positively impacting the industry.

“With stricter oversight and comprehensive regulations, investor confidence has grown, as reflected in increasing trade volumes on platforms like Tokocrypto,” he said.

He also noted that clear regulations open doors for innovation. “With regulatory certainty and responsible innovation, we are optimistic about the industry’s long-term growth,” he added.

Trump’s Crypto Policies Could Influence Indonesian Market

Iqbal highlighted the impact of global developments on Indonesia’s crypto market, particularly U.S. President Donald Trump’s announcement of a strategic crypto reserve for Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). The move has boosted prices and investor confidence.

“The U.S. government’s pro-crypto stance could create positive sentiment globally, including in Indonesia,” he said, adding that similar policies from other nations could drive liquidity and institutional involvement.

Iqbal hopes Indonesian regulators recognize crypto’s potential as a strategic asset to support the country’s digital economy growth. “We need to ensure that existing regulations provide legal certainty for investors while remaining flexible so that Indonesia’s crypto industry can develop in a healthy manner,” he said.

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