OJK Aims For IDR 1,000 Trillion Crypto Transactions In 2028, This Is Advice From Tokocrypto CEO

Illustration of crypto assets (photo: Pixabay)

JAKARTA - The Financial Services Authority (OJK) has announced an ambitious target to achieve a transaction value of IDR 1,000 trillion in the digital and crypto financial sectors by 2028, in line with the roadmap recently released.

Responding to this ambition, the Deputy Chairperson of the Indonesian Crypto Asset Blockchain & Traders Association (Aspakrindo-ABI), Yudhono Rawis expressed his support for this OJK move.

Because according to him, if the strategic program is implemented, it is very possible that the transaction value of crypto assets is projected to increase more than three times, from Rp301.75 trillion from January to June 2024 to Rp1,000 trillion in 2028.

However, Yudho said that to achieve this ambitious target, strong synergy is needed between regulators, industry players, and other stakeholders.

"Effective collaboration is key. OJK needs to continue to strengthen supervision and provide clear guidelines, while industry players must ensure compliance with regulations and continue to innovate in creating products and services that are safe and according to market needs," he said.

Yudho also added how important this roadmap is to ensure that the crypto industry in Indonesia can develop while maintaining the aspect of compliance with existing regulations.

According to Yudho, there are several collaboration opportunities that can be carried out between OJK and other crypto industries, such as the development of crypto asset-based mutual funds or ETFs, the issuance of bonds supported by crypto assets, as well as the development of insurance products that can protect investors from the risk of volatility and security of crypto assets.

"With the strong support of various business actors and the balanced implementation of supervision, the OJK target to achieve a transaction value of IDR 1,000 trillion in 2028 is not impossible," he concluded.