OJK to Supervise Crypto Trading in Early 2025

TEMPO.CO, Jakarta - The handover of crypto trading supervision from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK) is expected to finish in early 2025.

The Chief Executive of Financial Sector Technology Innovation, Digital Assets, and Crypto Assets Supervision Hasan Fawzi said the handover will be provided under a government regulation.

"As of now, the government regulation draft (RPP) on financial assets including the handover of crypto and derivatives supervision has entered the harmonization, rounding, and consolidation of concept stage which has been requested to the Ministry of Law and Human Rights," said Hasan in a press conference held virtually on Thursday, Jan. 11. OJK works with the Financial Ministry and Bank Indonesia for this stage.

"Hopefully, the RPP could soon be promulgated which will be the reference for the handover preparation of digital assets, crypto assets, and financial derivatives supervision from Bappebti to OJK," he said.

In general, Hasan reported no obstacles during the drafting process of the government regulation.

OJK, according to Hasan, will continue working with Bank Indonesia and Bappebti to prepare the handover by forming a Transition Team coordinated by OJK.

Concerning crypto assets, it is reported that domestic crypto investors have shown an upward trend, reaching 18.25 million investors as of November 2023, a 190,000 increase compared to the previous month.

DEFARA DHANYA PARAMITHA