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In its latest move, the Financial Services Authority (OJK) introduced new regulations that strengthen supervision of crypto asset trading in Indonesia. OJK released the Draft Financial Services Authority Regulation (RPOJK) on the Implementation of Digital Financial Asset Trading including Crypto Assets to solicit public feedback.

With the enactment of the RPOJK regarding the implementation of digital financial asset trading, including crypto assets, OJK will have a greater role in regulating and supervising this rapidly growing sector. This step is not only aimed at regulating the market, but also providing better protection for consumers.

With clearer regulations and strict supervision from OJK, public trust in crypto assets as an investment instrument is projected to increase. The legal certainty presented by this regulation creates a more conducive investment climate for consumers and business actors in the digital asset sector.

Tokocrypto CEO Yudhono Rawis welcomed OJK’s move positively. According to him, with stricter and clearer regulations, the crypto asset industry in Indonesia will have a stronger foundation.

“This is a breath of fresh air for us as market players. Clear regulations and strict supervision from the OJK will increase public trust in crypto assets. In addition, the capital requirements set will encourage exchanges and traders to be more professional in managing the market,” he said in an official statement, quoted Tuesday (10/9/2024).

Yudho also added that this regulation provides better protection for consumers, especially in terms of asset security and personal data. With strict security standards, consumers will feel safer and more confident in investing in crypto assets.

“This will support healthy and sustainable industrial growth in the future,” he added.