Crypto Regulation in Indonesia

The regulation of cryptocurrency in Indonesia is still evolving. Here are some important points regarding crypto regulation in Indonesia:

- Cryptocurrency Status: Cryptocurrency is not recognized as a legal payment instrument in Indonesia but is recognized as a digital asset that can be traded on futures exchanges under the supervision of the Commodity Futures Trading Regulatory Agency (Bappebti) and now the Financial Services Authority (OJK).

- Oversight: The oversight of crypto assets in Indonesia has been transferred from Bappebti to OJK on January 10, 2025, in accordance with Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK).

- Regulation: Several regulations governing cryptocurrency in Indonesia include:

- Minister of Trade Regulation Number 99 of 2018: Regulates the general policies for the implementation of crypto asset futures trading.

- Bappebti Regulation Number 5 of 2019: Regulates the technical provisions for the implementation of the physical market for crypto assets.

- OJK Regulation Number 27 of 2024: Regulates the trading of digital financial assets.

- Tax: The Indonesian government has established tax rules for cryptocurrency transactions, namely a value-added tax (VAT) of 0.11% and an income tax (PPh) of 0.1%.

- Legal Crypto Assets: Bappebti has issued a list of crypto assets that can be traded in Indonesia, which includes more than 851 types of crypto assets.