Indonesian Crypto Investors Increase Rapidly, Regulation Becomes A Motivater Factor

CCO Reku, Robby (photo: Reku)

JAKARTA - Until October 2024, the Financial Services Authority (OJK) announced that the number of crypto investors in Indonesia had increased to 21.63 million, an increase of 360 thousand investors compared to last September.

In addition, crypto transactions which also reached IDR 475.13 trillion from January to October. This figure jumped 352.89% compared to the same period last year.

Responding to this trend, Chief Compliance Officer (CCO) of Reku and General Chair of Aspakrindo-ABI, Robby said that one of the factors driving this increase was the presence of crypto asset regulations.

According to Robby, the presence of regulations from these regulators will then increase public confidence in crypto assets, especially in Indonesia.

"The government continues to support the growth of crypto assets in Indonesia with various protection efforts for investors. Including the application of Know Your Customers (KYC) to strengthen Anti-Money Laundering and Prevention of Terrorism Financing (PPT APU) in Indonesia," Robby said in a written statement.

In addition, Robby added, the establishment of Self-Regulatory Organizations (SRO) consisting of Exchanges, Depository, and Clearing Institutions to ensure that every transaction and operation of crypto trading runs according to established standards and regulations, also providing convenience for investors.

In addition to regulation, the crypto market that is in the bull-run phase is also a special attraction for investors, including beginners.

According to Robby, the rapid increase in the price of crypto assets such as Bitcoin which shot to the level of 107.8 thousand US dollars (Rp1.7 billion) on December 17 also invited conversations among new investors.

"Therefore, the role of education and literacy still has to be prioritized to increase public understanding in order to invest in crypto wisely," he added.

In line with the government's efforts, Reku also continues to support educational efforts, one of which is collaborating with Tether to hold roadshows in 10 cities in Indonesia.