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ARTICLE · 29 MAY 2025

Fintech Legal Guide – Indonesia

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The most significant legal development in Indonesia's Fintech sector is the enactment of Law No. 4 of 2023 on Development and Strengthening of Financial Sector ("Law 4/2023").

IndonesiaTechnology
Audria Putri
Audria Putri
M. Irfan Yusuf
M. Irfan Yusuf
Albert Barnabas
Albert Barnabas
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1. OVERVIEW

1.1. WHAT ARE THE MOST SIGNIFICANT LEGAL DEVELOPMENTS IN THE FINANCIAL TECHNOLOGY ("FINTECH") INDUSTRY IN YOUR JURISDICTION?

The most significant legal development in Indonesia's Fintech sector is the enactment of Law No. 4 of 2023 on Development and Strengthening of Financial Sector ("Law 4/2023"). This is an omnibus law of the financial service sector where one law amends up to 17 laws pertaining to the bank and financial services sector.

Law 4/2023 becomes the main legal basis of implementation of fintech as well as management of digital financial assets in Indonesia. Fintech is subject to the regulatory sandbox of licensing, monitoring and evaluation, financial education, consumer protection, consumer personal data protection, and other activities in support of technology innovation in the financial sector.

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