OJK Reveals Total Crypto Transactions Reaches IDR 158.84 Trillion

Illustration (Photo: Doc. ANTARA)

JAKARTA - The Financial Services Authority (OJK) noted that the total accumulated value of crypto asset transactions from 2024 to March 2024 was recorded at IDR 158.84 trillion.

Hasan said that crypto asset transactions in March 2024 rose to IDR 103.58 trillion when compared to transactions in February of IDR 33.69 trillion.

"The transaction value of crypto assets in the same period was recorded at Rp103.58 trillion, a significant increase compared to the previous month's Rp33.69 trillion," Chief Executive of the Financial Sector Technology Innovation Supervisory, Digital Financial Assets and Crypto Assets, Hasan Fawzi at the RDK press conference, Monday, May 13.

According to Hasan, in addition to the increasing transactions, the number of domestic crypto asset investors in the trend has increased as of March 2024, total crypto asset investors have also increased to 19.75 million or an increase of 570.000 investors compared to the previous month's 19.18 million investors.

"As of March 2024, the total number of crypto asset investors is 19.75 million investors or an increase of 570 thousand investors compared to the previous month's 19.18 million investors," he explained.

With the current increase in the number of crypto asset investors, Indonesia is ranked 7th largest as the country with the largest number of crypto asset investors in the world.

Regarding the supervision of crypto assets, Hasan said that the OJK would form a Transitional Team for the transition of digital financial asset management and supervision, including crypto assets from CoFTRA to OJK in carrying out the duties and functions of transitioning digital financial assets including Crypto Assets and Financial Derivatives.

"OJK as the coordinator will coordinate with Bank Indonesia and CoFTRA in forming the Transition Team in question," he explained.

In addition, Hasan said, the OJK is preparing a Cybersecurity Guideline which will be implemented in the IAKD sector, including Crypto Assets.

"This Guideline will serve as a guideline for ITSK Organizers in compiling and implementing cyber security and security frameworks in the IAKD sector," he said.

Furthermore, Hasan said that the OJK was formulating policies related to the application of Artificial Intelligence in the financial sector, including the ITSK sector by collaborating with related Ministries/Institutions and associations.