Indonesia / OJK (Digital Financial Assets)

Regulatory authority over crypto assets moved from the commodity futures regulator, Bappebti, to the financial services authority, OJK, with effect from 10 January 2025 under Government Regulation 49/2024. The reclassification is the substantive change: crypto is no longer a tradable commodity but a "digital financial asset" inside the financial services perimeter, governed by POJK 27/2024, as amended by POJK 23/2025 (promulgated 10 November 2025), which extended the regime to derivatives and tightened capital, segregation, and supervision rules; its 9 January 2026 deadline moved the last unlicensed derivative traders under OJK licences. Law No. 4 of 2026, effective 17 June 2026, raises that taxonomy to primary law. The point that matters for privacy engineering is a listing criterion: POJK 27/2024 requires traded assets to be traceable and bars assets whose features conceal ownership or transaction information. Indonesia is therefore permissive toward tokenised finance and explicitly restrictive toward on-chain confidentiality. Crypto also remains prohibited as a payment instrument, because the Currency Law makes the rupiah sole legal tender.