Targeting Crypto Potential, OJK Releases 2024-2028 Digital Financial Asset Innovation Roadmap

Todaysgist.com, Jakarta The Financial Services Authority (OJK) officially released the Roadmap for the Development and Strengthening of Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets 2024-2028. One of them is to capture the potential in the digital sector in Indonesia.

Chairman of the OJK Board of Commissioners, Mahendra Siregar, realized that Indonesia’s digital financial innovation is still wide open. Given its utilization which is still relatively small in Indonesia.

“If we compare it to a glass being filled with water, at this time, perhaps only 1/4 or less of the financial sector technology innovation in Indonesia is filled with water,” said Mahendra in his remarks in Jakarta, Friday (9/8/2024).

“The space for development and utilization is still extraordinarily large,” he continued.

However, he also realized that there are many challenges that are not easy in developing digital financial assets faced in Indonesia. For that, a regulation and supervisor are needed to limit the right corridor in practice in the field.

“But the attitude is because this is not only inevitable, we must optimize it as much as possible how we are able to really utilize it. This is where I think the presence of a new field in the OJK is ready to accommodate all the great potential to be transformed into a technology platform that provides great benefits for the Indonesian people,” he explained.

It is known that OJK has only had a Financial Sector Technology Innovation (ITSK), Digital Financial Assets and Crypto Assets (IAKD) supervision unit for about 1 year. The hope is that this can maintain the practice of crypto assets and similar digital financial assets to develop.

“We do not deny the challenges and downside risk “That’s it, but precisely with the collaboration and synergy within OJK that we mentioned earlier, everything is seen, screwtinized from various perspectives, so the risk can be minimized as much as possible,” explained Mahendra.