The Crypto Industry Enters a New Chapter, Regulation as a Foundation

JAKARTA - The Indonesian blockchain and crypto asset industry is entering a new phase as the regulatory framework strengthens and the use of blockchain technology in various sectors expands through the tokenization of real world assets (RWA), intellectual property tokenization, and the development of digital infrastructure. This development marks an industry framework that not only focuses on trading crypto assets, but also on strengthening the ecosystem to create a wider and more inclusive economic value.

INDODAX CEO, William Sutanto, sees the transition of supervision of crypto assets to the Financial Services Authority (OJK) going relatively well through a soft landing approach. According to him, the next phase needs to be directed at strengthening the ecosystem, especially through wider integration with other financial services institutions and regulations that still provide room for innovation.

"We don't see the transition to OJK as something to be feared. The soft landing approach makes the change process go quite well. The most important thing is how the certainty of increasingly stronger regulations can become the foundation for the industry to become a space for innovation and integration that is wider with the financial ecosystem while maintaining consumer protection," said William in a panel discussion at the Indonesia Blockchain Week 2026, quoted Friday, August 14.

At the same time, William assessed that the regulatory framework needs to continue to be based on space for innovation, access to a wider market, and consumer protection. Seeing the rapidly developing crypto industry, making the ability to accommodate innovation is important so that domestic actors can grow and compete globally.

"The crypto industry is growing very fast. Therefore, what needs to be continued to be sought is a balance so that innovation still has room to grow, while consumer protection remains a priority," he explained.

On the market side, William sees an increase in the number of licensed exchanges as a positive development because it provides options for consumers. However, amid a global decline in crypto trading volume, he reminded that market volume must move in balance with the growth of the number of actors. This is to mitigate the risk of consolidation in the national crypto industry.

"More players certainly provide more choices for consumers. However, we also need to see how the market continues to grow. Because if the number of players increases while the market volume does not grow in line, consolidation can be one of the dynamics that will happen in the future," he added.

Tokenization Expands Blockchain Use in Real Sector

In the midst of the strengthening of the crypto industry, the utilization of blockchain technology is also beginning to expand to a wider range of economic needs. One of them is seen from the discussion regarding the tokenization of assets as an alternative to financing development.

The Minister of National Development Planning/Head of Bappenas, Rachmat Pambudy, explained that through blockchain, various assets such as securities, commodities, gold, property, to infrastructure can be represented digitally and divided into smaller units, so as to potentially expand investment access.

"Small investors, medium investors, large investors can become part of the investment ecosystem because of blockchain and also the ability to digitize assets and can be divided into smaller and more affordable parts for investors," he said.

The utilization of blockchain technology is also beginning to be built in the creative economy sector. The Minister of Creative Economy/Head of the Creative Economy Agency, Teuku Riefky Harsya, sees that blockchain and Web3 can open up new opportunities in the management and commercialization of Indonesian intellectual property.

"Blockchain opens up space to strengthen policies, licensing, royalties, to present new IP-based financing models. However, one principle must be maintained, innovation must go hand in hand with legal certainty and consumer protection," he said.

From Market Growth to Economic Impact

These various opportunities show that the development of blockchain is beginning to move from infrastructure development to more concrete utilization. As the application of this technology becomes more widespread, innovation development also needs to go hand in hand with adaptive regulations, strong compliance, and governance that can support the sustainable growth of the ecosystem.

As a licensed crypto exchange in Indonesia, INDODAX sees this momentum as an opportunity for the digital asset industry to rise in class, from merely a growing market to an ecosystem that is able to create wider benefits for the Indonesian people and economy.