OJK Allows Influencers To Promote Crypto To Improve Literacy

Illustration. (Photo: Unsplash)

JAKARTA - The Financial Services Authority (OJK) allows influencers to promote crypto assets in Indonesia, provided that these activities aim to increase public literacy.

The Chief Executive of the Financial Sector Technology Innovation Supervision, Digital Financial Assets, and OJK Crypto Assets, Hasan Fawzi, explained that this promotion must be carried out responsibly by crypto industry players who have official permission from the OJK.

Hasan Fawzi also emphasized that influencers promoting crypto must cooperate with official organizers, and the promotions carried out should focus more on public education rather than directing them to invest in certain crypto assets.

Along with this policy, the crypto industry in Indonesia continues to grow rapidly. Data from the Commodity Futures Trading Supervisory Agency (CoFTRA) shows that the transaction value of crypto assets reaches IDR 301.75 trillion from January to June 2024, with 20.24 million registered customers. This OJK decision is expected to accelerate the growth of the crypto industry, and ensure adequate protection for the community.

INDODAX CEO, Oscar Darmawan, appreciates the regulator's move which is considered a positive effort to increase financial literacy in Indonesia. The involvement of influencers in promoting crypto assets can be a very effective tool to reach a wider audience, especially the younger generation who often get information through social media.

Oscar Darmawan also underlined the importance of ethics in promoting crypto assets by influencers.

"It is important for influencers to ensure that the information submitted to the public is clear and responsible information. We at INDODAX always support steps that ensure that the education and information provided is not only interesting, but also educating and not misleading," he said.

Oscar also added that with clear regulations from the OJK, his party hopes to build greater trust in the crypto industry. He also emphasized the importance of monitoring information submitted by crypto-related influencers, because inaccurate dissemination of information can harm the public and reduce trust in the industry.

"Transparency and compliance with regulations are key in building a healthy crypto ecosystem. By working with regulators and following established guidelines, we believe the crypto industry in Indonesia will continue to develop in a positive and sustainable manner," said Oscar.

The move, according to Oscar, could also help strengthen the image of the crypto industry as part of a well-regulated and well-supervised financial system.

"We at INDODAX are always committed to operating in accordance with applicable regulations and supporting initiatives aimed at protecting consumers and educating the public about crypto," he concluded.

INDODAX is not just a crypto exchange platform, but also a source of education for everyone. To increase crypto literacy, INDODAX Academy is here to provide information starting from the basic level. You can access INDODAX Academy for free through the INDODAX website, YouTube, and social media.