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Indonesian Crypto Transaction Value Reaches IDR 211 Trillion, Beyond 2023

Previously, the number of crypto asset investors in Indonesia continued to increase every month. In fact, currently the number of Indonesian crypto investors is ranked seventh in the world. This achievement is based on data collected until March 2024.

Chief Executive of the Supervision of Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets of the Financial Services Authority (OJK) Hasan Fawzi said that the number of crypto asset investors in Indonesia reached 19.75 million investors as of March 2024. This number increased by 570,000 investors compared to data in February 2024.

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“Indonesia is ranked seventh as the country with the largest number of crypto asset investors in the world,” said Hasan at the Board of Commissioners (RDK) Meeting in Jakarta, Monday, May 13 2024.

Meanwhile, the transaction value of crypto assets in the March 2024 period was recorded at IDR 103.58 trillion. This transaction value experienced a significant increase compared to the previous month, amounting to IDR 33.69 trillion.

“The number of investors and domestic crypto asset transactions is on an increasing trend,” he said.

Thus, the total accumulated value of crypto asset transactions is IDR 158.84 trillion until March 2024.

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Literacy and Inclusion

Going forward, OJK will continue to encourage increased digital financial literacy and inclusion, including crypto assets. This is in line with OJK Regulation Number 3 of 2024 concerning Implementation of Financial Sector Technology Innovation (ITSK).

OJK Regulation Number 3 of 2024 is an improvement on the Regulatory Sandbox mechanism, which is an OJK facility for testing and developing innovative financial technology.

This regulation is an important step in providing legal certainty for the regulation and supervision of technological innovation in the financial sector.

OJK continues to encourage increased digital financial literacy and inclusion, strengthening a sustainable digital financial ecosystem, as well as ethical and responsible business practices, especially related to the application of Artificial Intelligence in the ITSK sector,” he concluded.

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Reporter: Sulaeman

Source: Merdeka.com

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Indonesian Crypto Transaction Value Reaches IDR 211 Trillion, Beyond 2023

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