Indonesia Blockchain 2025: Regulatory Guide

Trends and Developments

Introduction

Indonesia is undergoing a pivotal transformation in the regulation of crypto-assets. With the enactment of Law No 4 of 2023 regarding the Development and Strengthening of the Financial Sector dated 12 January 2023 (the "PPSK Law") and its implementing regulations, as of January 2025, the supervisory authority over crypto-assets has officially moved from the Commodity Futures Trading Regulatory Agency (Badan Pengawas Perdagangan Berjangka Komoditi or "Bappebti") to the Financial Services Authority (Otoritas Jasa Keuangan or OJK).

This regulatory shift reflects the government's intention to more closely integrate crypto-assets into the financial system while enhancing consumer protection, market integrity and systemic stability in the digital assets space. Despite the transition to OJK oversight, crypto-assets remain classified as commodities or digital assets rather than financial instruments – a distinction that has