Title: Indonesia / OJK (Digital Financial Assets) · Jurisdiction · EthSystems

URL Source: https://ethsystems.org/jurisdictions/id-ojk/

Markdown Content:
---
description: Regulatory authority over crypto assets moved from the commodity futures regulator, Bappebti, to the financial services authority, OJK, with effect from 10 January 2025 under Government Regulation 49/2024. The reclassification is the substantive change: crypto is no longer a tradable commodity but a "digital financial asset" inside the financial services perimeter, governed by POJK 27/2024, as amended by POJK 23/2025 (promulgated 10 November 2025), which extended the regime to derivatives and tightened capital, segregation, and supervision rules; its 9 January 2026 deadline moved the last unlicensed derivative traders under OJK licences. Law No. 4 of 2026, effective 17 June 2026, raises that taxonomy to primary law. The point that matters for privacy engineering is a listing criterion: POJK 27/2024 requires traded assets to be traceable and bars assets whose features conceal ownership or transaction information. Indonesia is therefore permissive toward tokenised finance and explicitly restrictive toward on-chain confidentiality. Crypto also remains prohibited as a payment instrument, because the Currency Law makes the rupiah sole legal tender.
title: Indonesia / OJK (Digital Financial Assets) · Jurisdiction · EthSystems
image: https://ethsystems.org/og.png
---

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#### Key regulations

* P2SK Law (Law No. 4 of 2023)
* POJK 27/2024 as amended by POJK 23/2025
* Law No. 4 of 2026

#### Entities

* exchanges
* traders
* clearing institutions
* custodians
* issuers

#### Activities

* trading
* custody
* clearing
* settlement
* issuance

> Developer orientation. Not legal advice.

## What to Watch

* A draft OJK regulation on digital financial asset offerings would establish a primary market and issuance regime.
* How the anti-concealment listing criterion is read against privacy-preserving L2s and shielded pools, as distinct from privacy coins, remains unsettled.
* Industry pressure to recognise stablecoins for payments runs against the Currency Law restriction.
* Derivatives, segregated accounts, and licensing thresholds were all touched by the POJK 23/2025 amendments.

## See also

* [Digital Financial Assets and Crypto Assets – OJK](https://ojk.go.id/en/fungsi-utama/itsk/informasi-iakd/publikasi-dan-kajian/default.aspx)
* [Jurisdiction: Singapore / MAS](/jurisdictions/sg-mas/)
* [Jurisdiction: Hong Kong SAR (HK)](/jurisdictions/hk-crypto-licensing/)
* [Jurisdiction: China (CN)](/jurisdictions/cn-crypto-ban/)

Also in APAC

* [China (CN)](/jurisdictions/cn-crypto-ban/)
* [Hong Kong SAR (HK)](/jurisdictions/hk-crypto-licensing/)
* [Singapore / MAS](/jurisdictions/sg-mas/)

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