The transition plan for the transfer of Indonesian cryptocurrency regulatory authority to OJK has been delayed

Indonesia has not yet completed the final transition of cryptocurrency regulation, supervision, and oversight from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK). Since 2018, Bappebti has been responsible for regulating crypto assets. Due to a lack of supportive government regulations, the transition originally scheduled for completion on January 12, 2025 has been postponed.

The OJK is expected to create a more transparent regulatory environment in line with international standards. It plans to introduce clearer rules for trading, taxation and operation of cryptocurrency exchanges - areas previously managed by Bappebti but lacking sufficient regulatory strength.

Mahendra Siregar, Chairman of OJK stated that discussions and preparations for the regulatory transition are actively underway.