Indonesia has witnessed a significant surge in cryptocurrency trading following the transfer of regulatory oversight from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK) on 10 January 2025. According to the latest report from OJK, the value of cryptocurrency transactions reached IDR 44.07 trillion in January 2025, marking a remarkable 104.31% increase compared to the same period in the previous year, which recorded IDR 21.57 trillion.
Hasan Fawzi, Chief Executive of Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets at OJK, highlighted that the transition of regulatory oversight has proceeded smoothly and has contributed to increased public interest in cryptocurrency trading. He emphasised that OJK remains committed to implementing appropriate regulations to ensure the sector’s sustainable and healthy growth.
As of February 2025, OJK reported that 1,396 cryptocurrencies are available for trading in Indonesia. To foster a safer and more regulated ecosystem, OJK has granted licences to 19 entities operating in the cryptocurrency sector. This includes one cryptocurrency exchange, one clearing and guarantee institution, one custodian manager, and 16 cryptocurrency traders. Additionally, OJK is currently processing licences for 14 prospective cryptocurrency trading entities, reflecting the rapid expansion of Indonesia’s cryptocurrency market.
This surge aligns with the trend observed in the previous year when the total transaction value reached IDR 650.6 trillion in 2024, with a peak of IDR 94 trillion in December. The substantial increase in cryptocurrency transactions underscores the growing public interest in digital assets as an alternative investment.
With regulatory oversight now under OJK, it is anticipated that the continued growth of the cryptocurrency sector will be accompanied by robust regulations to protect investors and maintain market stability.
