Indodax: Influencer's Involvement In Promotion Of Crypto Assets Is An Effective Tool For The Young Generation

Bitcoin (Photo: Unsplash)

JAKARTA - Indodax appreciates the steps taken by the Financial Services Authority (OJK) to allow influencers to promote crypto assets in Indonesia. Although on condition that the activity aims to increase public literacy.

"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," said Indodax CEO Oscar Darmawan quoting Antara.

He underlined the urgency of ethics in promoting crypto assets by influencers. This means that the information submitted to the public must be clear and responsible. It is said to always support measures that ensure that the delivery of education and information related to crypto is obliged to educate and not be misleading.

With clear regulations from the OJK, his party also hopes to build greater trust in the crypto industry.

He stressed 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. In collaboration 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.

This step is also considered to be able to help strengthen the image of the crypto industry as part of a well-regulated and 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 also said.

Previously, OJK Chief Executive of Financial, Financial Assets and Crypto Assets Technology Innovation Supervision Hasan Fawzi said that the promotion of crypto assets by influencers could be carried out responsibly by crypto industry players who have official OJK permits.

Influencers promoting crypto need to cooperate with official organizers, and promotions that are carried out should focus more on public education rather than directing them to invest in certain crypto assets.

Based on data from the Commodity Futures Trading Supervisory Agency (CoFTRA), the transaction value of crypto assets reached IDR 301.75 trillion from January to June 2024 with 20.24 million registered subscribers.

This OJK decision is expected to accelerate the growth of the crypto industry and ensure adequate protection for the community.