The cryptocurrency ecosystem in Indonesia is thriving with significant changes in policies and market regulations.
New regulations, tax reforms, and the emergence of the digital Rupiah are reshaping the operations of the domestic digital finance system while promoting professionalism and transparency in exchanges.
MAIN CONTENT
The transfer of management from BAPPEBTI to OJK raises compliance standards for cryptocurrency exchanges.
The digital Rupiah and stablecoins can complement each other in Indonesia's financial ecosystem.
Tax reforms help boost investor trust, although a balance is needed between competitiveness and compliance.
How does Indonesia regulate cryptocurrency management under OJK supervision?
The transfer of supervisory authority from BAPPEBTI to OJK imposes stricter compliance requirements on Indonesian cryptocurrency exchanges. Exchange leaders must ensure high governance and security standards according to banking standards.
This requires exchanges to implement effective internal control systems, separate customer funds, and enhance cybersecurity systems. Many entities have proactively invested in monitoring technology using artificial intelligence and expanded compliance teams to meet new standards.
Alex Chandra, a public policy and government relations expert, commented: "The main challenge is governance and compliance. Requirements are becoming deeper, with more frequent and intrusive checks."
Will the launch of the CFX derivatives exchange centralize the market?
CFX Exchange is considered the core system that strengthens transparency, protects investors, and enhances overall trust in the system through centralized trading, payment, and custody. However, experts warn that sandbox policies and a tiered framework are needed to avoid stifling innovation.
Alex Chandra describes: "I see CFX as an essential market infrastructure, similar to a stock exchange." This focus not only stabilizes the market but also imposes stricter management requirements to protect the market from systemic risks.
Can the digital Rupiah and stablecoins coexist in Indonesia?
While Bank Indonesia develops the digital Rupiah to serve monetary policy and payments, stablecoins play a role in boosting liquidity and DeFi activities. Alex Chandra believes these two currencies complement rather than compete with each other.
He stated: "The digital Rupiah aims for payment and stability, while stablecoins support transactions and DeFi. If there is high interoperability and clear standards, both currencies will develop together in the digital economy."
Industry leaders are also concerned that dependence on stablecoins tied to the USD will cause domestic capital to flow into US government bonds, thereby putting pressure on the Rupiah.
How does cryptocurrency tax reform affect investor trust?
The new tax regulations eliminate VAT, applying a final income tax of 0.21%, marking a breakthrough in transparency and simplifying tax filing for Indonesia's cryptocurrency market.
However, this ratio needs to be carefully considered to avoid diminishing the attractiveness of the market compared to other cryptocurrency financial centers, mitigating the risk of capital flight abroad.
Alex Chandra commented: "This reform balances competition and compliance. If implemented well, it will promote deeper liquidity and growth of domestic exchanges."
How do strict AML and KYC policies impact onboarding new users?
OJK requires exchanges to implement AML and KYC controls at a higher level with a tiered onboarding model. Small traders are automatically verified through e-KYC, while larger accounts undergo stricter due diligence checks.
Although compliance costs are increasing, this process strengthens reliability and professionalism in the industry, creating a sustainable foundation for long-term growth.
What is the sustainable development outlook for cryptocurrency in Indonesia in the future?
Despite the increasingly stringent legal environment, Alex Chandra remains optimistic about the long-term development of Indonesia's cryptocurrency market. Clear regulations and tax reforms will attract institutional investors and enhance public trust.
Web3 developer Febi Mettasari emphasizes the need to expand legal support for blockchain developers to prevent Indonesia from falling behind in the global Web3 race.
"I see CFX as an essential market infrastructure, similar to a stock exchange."
– Alex Chandra, Public Policy & Government Relations Expert, Coinfest Asia 2025
"This tax reform balances competition and compliance. If implemented well, it will promote deeper liquidity and growth of domestic exchanges."
– Alex Chandra, Public Policy & Government Relations Expert, 2025
Frequently Asked Questions
How do the new OJK regulations affect cryptocurrency exchanges in Indonesia?
OJK sets strict compliance standards, requiring better governance and protection of customer funds, helping to increase transparency and safety in the market.
Will the digital Rupiah replace stablecoins?
The digital Rupiah and stablecoins play complementary roles, serving different purposes such as monetary policy and market liquidity.
How will the new tax affect cryptocurrency trading activities?
The 0.21% tax is simple and transparent, helping to increase investor trust but needs to be considered carefully to maintain competitiveness with the international market.
How are AML and KYC applied in Indonesian cryptocurrency?
User verification follows a tiered model, combining automated e-KYC and in-depth due diligence, enhancing security and trust.
What is the biggest challenge facing Indonesia's cryptocurrency market today?
The main challenge is maintaining a balance between technological innovation, legal compliance, and investor protection in an increasingly stringent legal environment.
Source: https://tintucbitcoin.com/crypto-indonesia-2025-ojk-cfx-stablecoin/
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