Rules and calendar

Transfers crypto oversight from Bappebti to OJK and sets operating standards. Paid-up capital floors: IDR 1T (Exchange/Bursa), IDR 500B (Clearing), IDR 250B (Custodian), IDR 100B (Trader/Pedagang). Foreign ownership in exchanges/clearing capped at 40% aggregate and 10% per entity; must incorporate as an Indonesian PT with physical HQ (virtual offices banned) and onshore disaster recovery. New/unlisted tokens must pass OJK evaluation or sandbox before trading. Fines up to IDR 2M/day for reporting failures, escalating to license revocation. ⚠️ AMENDED by POJK 23/2025 (in force Nov 2025): derivatives brought in scope, margin and consumer knowledge-test obligations added, and Art. 87 now restricts segregated accounts to OJK-licensed commercial banks while removing the BPDK approval concept. Read the two together.

For entrants: The core license: any crypto business serving Indonesians must localize as a PT and clear steep capital floors and the 40% foreign-ownership cap.

OJK · Active, AMENDED by POJK 23/2025 · Enacted 12 Dec 2024, effective 10 Jan 2025

Source: OJK legal database (search by reference).

AMENDS POJK 27/2024, the keystone rule. Widens Digital Financial Asset (AKD) scope to include AKD DERIVATIVES. A Bursa must obtain OJK approval before running derivatives trading; a Pedagang may then deal on an approved Bursa without separate approval but must notify OJK in writing, under a prior cooperation agreement. Margin for derivatives must sit in a dedicated account, in cash or AKD. Consumers must pass a knowledge test before trading derivatives. Trading is barred for any AKD outside the Bursa-set Daftar Aset Keuangan Digital. Article 87: segregated consumer accounts may only be opened at OJK-licensed commercial banks, and the former BPDK (consumer-fund custodian bank) approval concept is removed. Unlicensed parties dealing derivatives had to transfer that activity to a licensed Pedagang by 9 Jan 2026. NOTE: this POJK explicitly does NOT regulate AKD OFFERINGS, which is why the separate DFA-offerings rule is still pending.

For entrants: Anyone planning against POJK 27/2024 unamended is planning against a superseded text. The derivatives perimeter, the margin requirement, the consumer knowledge test and the bank-account rule are all new obligations. ADDED 2026-07-30 after an Exa sweep found the library had been missing this for seven months while presenting POJK 27/2024 as simply Active.

OJK · Active · Ditetapkan 31 Oct 2025, diundangkan 10 Nov 2025, announced 4 Dec 2025

Source: Source catalogue.

Financial Sector Development & Strengthening Law (UU PPSK). Legally reclassifies crypto from commodity to financial instrument, shifting authority from Bappebti to OJK and BI over a 24-month transition ending 12 Jan 2025. Introduces the ITSK innovation/sandbox framework and closes offshore arbitrage: foreign platforms cannot legally serve Indonesians without a local entity. Unlicensed operation carries up to 5-10 yr prison and fines up to IDR 1T.

For entrants: The statutory parent that put crypto under financial-sector law and made a local license non-optional.

OJK / BI · Active · Enacted 12 Jan 2023; handover by 12 Jan 2025

Source: Official text (link checked 2026-10-24).

Revises UU 4/2023. Mandates trades route through a licensed bursa (Pasal 221A), authorizes freeze/block of foreign platforms (Pasal 221E), and treats stablecoins as a gated transaction-tool, not direct payment (Pasal 213 elucidation). The single-orderbook rule is deferred to a forthcoming POJK.

For entrants: Hardens the route-through-licensed-bursa moat and gives OJK explicit power to block foreign platforms.

OJK / DPR · In-force 17 Jun 2026 · Enacted 17 Jun 2026 (LN 2026/62)

Source: Official text (link checked 2026-10-24).

Implements the structural transfer of digital financial asset and derivatives supervision from Bappebti to OJK and BI, effective 10 Jan 2025, managed by a Transition Team. Derivative products now need prior OJK or BI approval depending on the underlying (capital market vs money/forex). Ongoing Bappebti investigations pass to OJK/BI.

For entrants: The mechanical handover order; confirms OJK/BI as the supervisors crypto entrants now answer to.

OJK / BI · Active · Handover effective 10 Jan 2025

Source: BPK legal database (search by reference).

CFX board decree (CFX/DIR-SK/010/VIII/2025) setting the binding Daftar Aset Kripto, the whitelist of tokens tradeable on Indonesian platforms, per POJK 27/2024 Pasal 9. Roughly 574 approved tickers plus a rebranded-tokens appendix; licensed exchanges (Pintu, Tokocrypto, Indodax, Reku) are prohibited from listing anything off-list. Revokes prior lists; updated periodically.

For entrants: Gating move for foreign token projects: not being on the CFX list means no legal Indonesian exchange access.

CFX (OJK-licensed bursa) · Active · Effective 13 Aug 2025

Source: OJK legal database (search by reference).

Overhauls risk-based business licensing (OSS-RBA), centralizing corporate licensing, spatial planning (KKPR) and environmental approvals into one gateway; replaces PP 5/2021. Foreign investors (PT PMA) must inject more than IDR 10B per 5-digit KBLI per location, excluding land and buildings. Digital-asset/Web3 activity is classed High-Risk: OSS issues only a preparatory NIB and blocks commercial operation until sectoral (OJK/Bappebti) verification passes.

For entrants: Sets the IDR 10B PMA capital floor and spatial/licensing gate every foreign crypto entity clears before an operating license.

Government · Active · Effective 5 Jun 2025

Source: BPK legal database (search by reference).

Definitive crypto tax framework. Trades on OJK-recognized domestic platforms bear 0.21% income tax (PPh 22) on transaction value; trades on foreign/unappointed platforms are penalized at 1% per transaction. Foreign PPMSE meeting Indonesian volume thresholds can be designated mandatory tax collectors, requiring an NPWP and withholding receipts. Miner income-tax provisions apply from the 2026 tax year.

For entrants: The 0.21% vs 1% split is a direct economic penalty steering users to licensed domestic platforms.

MenKeu (DJP) · Active · Effective 1 Aug 2025

Source: Kemenkeu legal database (search by reference).

Implements the OECD Crypto-Asset Reporting Framework (CARF) and amended CRS. Indonesian-licensed crypto service providers (PJAK Pelapor CARF) must report customer identity, year-end balances, and gross proceeds from crypto-to-fiat AND crypto-to-crypto trades to DJP, with self-certification due diligence. First automatic exchange with 60+ jurisdictions in 2027 (for 2026 data). Willful failure: up to IDR 1B fine and/or 1 yr prison under UU 9/2017.

For entrants: Ends crypto tax privacy: Indonesian customer data flows to 60+ tax authorities, pressuring foreign platforms toward licensing.

MenKeu (DJP) · Active · Enacted 29 Dec 2025

Source: Kemenkeu legal database (search by reference).

Parent law granting DJP access to financial account information for tax purposes and the legal basis for AEOI/CARF implementation (PMK 108/2025). Pasal 7 criminal sanctions, up to IDR 1B fine and/or 1 yr prison, apply to willful reporting failures by crypto and financial institutions.

For entrants: Statutory backbone that makes CARF crypto reporting enforceable with criminal penalties.

MenKeu · Active · Enacted 2017

Source: Official text (link checked 2026-10-24).

Regulates Penyampai Informasi (finfluencers) in three tiers: edukasi (education) = no license; pemasaran (marketing) = only via a licensed PUJK, which carries liability; rekomendasi (recommendation) = requires competency certification/license. 6-month transition to ~4 Dec 2026.

For entrants: Crypto marketing via influencers now carries licensing and liability exposure for the sponsoring platform.

OJK · In-force 4 Jun 2026 · In-force 4 Jun 2026; transition to ~4 Dec 2026

Source: OJK legal database (search by reference).

Governance and risk-management standards for ITSK and digital financial asset operators. Requires a minimum of 2 directors, annual governance reports, and semi-annual risk reports.

For entrants: Raises the operating-governance floor: thin two-person crypto shops no longer clear the bar.

OJK · In-force 1 Jul 2026 · Effective 1 Jul 2026

Source: OJK legal database (search by reference).

Consumer protection and market-conduct framework for all OJK financial providers, including crypto/ITSK. Requires Bahasa Indonesia contracts, bans exoneration (liability-shifting) clauses, and imposes cross-border data-transfer standards requiring equivalent protection or consent. Fines up to IDR 15B, escalating to license revocation.

For entrants: Sets the fair-conduct and local-language disclosure bar crypto platforms must meet with Indonesian users.

OJK · Active · Enacted 22 Dec 2023; contracts adjusted by 31 Dec 2024

Source: OJK legal database (search by reference).

Foundational commodity futures law empowering Bappebti, the original legal basis for treating crypto as a tradable commodity pre-OJK. Requires local PT incorporation, 100% segregation of client margin at approved banks, and individual broker licensing (Wakil Pialang Berjangka). Unlicensed operation: up to 5 yr prison and IDR 6.5B; market manipulation up to 8 yr and IDR 10B.

For entrants: The legacy regime crypto sat under before UU 4/2023; still governs residual futures/derivatives structure.

Bappebti (legacy) · Active · Enacted 5 Dec 1997

Source: Official text (link checked 2026-10-24).

Amends UU 32/1997 to recognize Alternative Trading Systems (SPA) and non-standard derivatives, the framework crypto exchanges/OTC brokers operated under pre-OJK. Requires SPA licensing, operator/participant non-affiliation, segregated client funds at approved banks, and bans unlicensed solicitation/marketing. Unlicensed operation: 5-10 yr prison and IDR 10-20B.

For entrants: Legacy SPA licensing basis for crypto exchanges before the OJK transition.

Bappebti (legacy) · Active · Enacted 8 Aug 2011

Source: BPK legal database (search by reference).

Establishes the Rupiah as sole legal tender for all payments and settlements in Indonesia. Prohibits using crypto/stablecoins to price goods, settle commercial transactions, or pay for domestic services; narrow carve-outs exist for international trade/financing and FX bank deposits. Refusal to use IDR: up to 1 yr prison and IDR 200M, escalated by one-third for corporates plus possible asset seizure.

For entrants: The statutory root of Indonesia's crypto-payment ban: crypto is a tradable asset, never a domestic means of payment.

BI · Active · Enacted 28 Jun 2011

Source: BPK legal database (search by reference).

Licensing and operating framework for payment system providers (PJSP) that explicitly bans processing payments with virtual currency. Foreign ownership in principal/switching/clearing/settlement entities is capped at 20%; mandates local PT incorporation, domestic transaction processing, and 100% fiat reserve backing for non-bank e-wallets.

For entrants: Bars crypto rails from the national payment system and caps foreign ownership of payment infrastructure at 20%.

BI · Active · Effective 9 Nov 2016

Source: BPK legal database (search by reference).

AML, counter-terrorism and counter-proliferation financing framework covering ITSK/crypto operators. Requires risk-based CDD, beneficial-ownership tracing, EDD for PEPs, e-KYC tied to Dukcapil population data, and a dedicated independent compliance unit. Fines cap at IDR 100B or 1% of prior-year net profit.

For entrants: Forces crypto platforms into Dukcapil-linked e-KYC and full AML infrastructure, hard to satisfy from offshore.

OJK · Active · Enacted 14 Jun 2023

Source: OJK legal database (search by reference).

Indonesia's foundational data-protection law with extraterritorial reach over any entity processing Indonesian citizens' data. Restricts offshore data transfer unless the destination has equal/higher protection or consent exists, mandates a DPO for large-scale/sensitive processing, and requires 72-hour (3x24h) breach reporting. Fines up to 2% of annual revenue plus criminal liability.

For entrants: Governs KYC/personal-data handling; binds foreign platforms even with no local presence.

Govt (PDP authority) · Active · Enacted 17 Oct 2022; compliance from 17 Oct 2024

Source: Official text (link checked 2026-10-24).

Foundational AML act establishing PPATK and criminalizing laundering. Reporting Parties (including futures/crypto exchanges) must run KYC/CDD, trace beneficial owners, and report suspicious transactions and cash transactions over IDR 500M to PPATK (STRs within 3 days); anti-tipping-off applies. Corporate fines up to IDR 100B; executives up to 20 yr prison.

For entrants: The criminal-law AML backbone every licensed crypto operator's reporting pipeline plugs into.

PPATK · Active · Enacted 22 Oct 2010

Source: BPK legal database (search by reference).

Foundational e-transactions law validating electronic contracts/signatures and criminalizing unauthorized access, data manipulation, gambling and misleading content. Extraterritorial reach over foreign PSEs accessible to Indonesians. Unauthorized access/manipulation up to 12 yr and IDR 12B; prohibited content up to 6 yr and IDR 1B; corporate penalties escalated by two-thirds.

For entrants: Baseline PSE liability layer; constrains aggressive crypto marketing and yield-promise claims.

Kominfo · Active · Enacted 21 Apr 2008

Source: Official text (link checked 2026-10-24).

First ITE amendment granting the state direct authority to block/terminate access to unlawful content and a court-ordered right to erase irrelevant data. False/misleading info causing consumer loss up to 6 yr and IDR 1B; defamation/threats up to 4 yr and IDR 750M.

For entrants: Enables national ISP-level blocking of unlicensed foreign crypto platforms; the erasure duty clashes with immutable chains.

Kominfo · Active · Enacted 25 Nov 2016

Source: BPK legal database (search by reference).

Second ITE amendment expanding state content-blocking powers and PSE accountability. Financial/digital-asset PSEs must use certified electronic signatures via Indonesian-licensed PSrE and implement child-protection/age-verification. Kominfo can block the IP/domains of non-compliant foreign platforms; misleading info causing loss up to 6 yr and IDR 1B.

For entrants: Tightens PSE certification and gives Kominfo sharper takedown/blocking teeth over crypto platforms.

Kominfo · Active · Enacted 2 Jan 2024

Source: BPK legal database (search by reference).

First government recognition of blockchain as a strategic technology, alongside AI and digital ID. Blockchain businesses can obtain a business identification number (NIB).

For entrants: First positive-legitimacy signal: gives blockchain ventures a formal path to register and operate.

Government · Active · 2025

Source: BPK legal database (search by reference).

Attorney General guideline setting procedures for seizing crypto assets, including chain-of-custody handling for private keys and hardware wallets.

For entrants: Operationalizes law-enforcement crypto seizure: relevant to custody, forfeiture and enforcement risk.

Attorney General · Active · 2023

Source: OJK legal database (search by reference).

Draft OJK regulation (RPOJK) on digital financial asset offerings, released September 2025 and still a draft. Offerings of IDR 1B or more would require a full OJK licence; below that, notification only. A sale to the public counts as a PUBLIC OFFERING if promoted broadly, for example via mass media or to more than 100 people. Issuers of both tokenised assets and crypto assets would need directors who are Indonesian citizens resident in Indonesia, including the president director. Covers foreign issuers targeting Indonesians.

For entrants: Sets the primary-issuance threshold, the key watch item for projects raising from Indonesians. Still pending is itself the finding: POJK 23/2025 states expressly that it does not regulate offerings, so the gap that pushes Indonesian token projects offshore remains open. DATED 2026-07-30: the entry previously carried status Draft with an EMPTY date field, so a reader could not tell whether the draft was two weeks or two years old.

OJK · Draft · Draft released Sep 2025; still not final as at May 2026

Source: Source catalogue.