OJK Hopes Crypto Investor Growth Can Strengthen Indonesia's Financial Ecosystem

FGD: Joining The Potential Collaboration Of Crypto Assets And Financial Services Industry In Indonesia (photo: Dinda Buana/VOI)

JAKARTA - The task of supervising and regulating crypto assets has officially been transferred from the Commodity Futures Trading Supervisory Agency (CoFTRA) to the Financial Services Authority (OJK) on January 10, 2025.

Through this transition, the Chief Executive of the Financial Sector Technology Innovation Supervision, Digital Financial Assets, and OJK Crypto Assets, Hasan Fawzi, is committed to strengthening regulations to support innovations responsible for and protecting consumers.

Moreover, the number of crypto investors in Indonesia as of the end of 2024 is recorded to have reached 22.9 million users, with the number of transactions reaching Rp650.6 trillion.

"We note together, at the end of the year there are no less than 22.9 million user accounts (crypto investors) on all official crypto trading platforms," Hasan said in the FGD: Revealing the Potential for Crypto Asset Collaboration and Financial Services Industry in Indonesia on Thursday, February 13 in the Jakarta area.

According to Hasan, the growth in the number of investors not only shows the wider use of crypto assets, but also confirms Indonesia's position in the global digital financial ecosystem.

He hopes that the growth of this very large crypto investor in Indonesia can strengthen the growth and deepening of the financial market.

"We hope that our crypto assets have the potential to strengthen the growth and deepening of our financial markets. Especially if we pay attention to the huge number of crypto investors," said Hasan.

However, he stressed that this growth must be balanced with adequate understanding, regulations that provide protection to consumers and investors, and ensure that innovation in this industry is still carried out responsibly.