Indonesia has taken a significant step forward in the cryptocurrency industry with the launch of DRX Token, a locally developed digital asset officially introduced by the Head of the Commodity Futures Trading Regulatory Agency (Bappebti). This initiative reflects Indonesia’s commitment to actively participating in the global digital asset ecosystem while fostering financial technology innovation at the national level.
OJK Emphasises Security and Transparency in the Crypto Industry
In line with this development, the Financial Services Authority (OJK) has reaffirmed its commitment to supervising the cryptocurrency industry to ensure consumer protection, transaction security, and transparency within the digital financial ecosystem. Since 10 January 2025, the regulation and oversight of digital assets have officially shifted from Bappebti to OJK, in accordance with the Financial Sector Development and Strengthening Law (P2SK Law). This regulatory transition aims to improve governance, transparency, and consumer protection in Indonesia’s digital asset trading sector.
Djoko Kurnijanto, Head of the Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets Regulation and Licensing Department at OJK, explained that the authority adopts a principle-based approach that balances regulatory oversight with support for innovation. This approach is expected to foster industry growth while maintaining transparency and protecting the public.
The Importance of Crypto Literacy and Education
To enhance public understanding of digital assets, OJK is collaborating with the Indonesian Blockchain Association (ABI) and the Indonesian Crypto Asset Traders Association (Aspakrindo) to launch the “Crypto Literacy Month” (Bulan Literasi Kripto). This initiative is particularly important given that digital financial literacy in Indonesia currently stands at approximately 45%, while global understanding of cryptocurrencies is estimated at 31.8%. OJK emphasises the importance of conducting independent research before investing in digital assets.
Collaboration Among Regulators to Combat Cybercrime
As an emerging asset class, cryptocurrencies present both opportunities and challenges, particularly regarding security. Collaboration among regulators, industry players, and law enforcement agencies is crucial in preventing and addressing cybercrime related to digital assets. Dialogue and information-sharing between stakeholders are expected to establish a safer and more reliable crypto ecosystem in Indonesia.
With the launch of DRX Token and OJK’s focus on security and transparency, Indonesia is demonstrating its commitment to developing a robust and sustainable cryptocurrency industry.
