Uncertainty Hits Crypto Industry Amid Bappebti-OJK Transfer
Jakarta. Uncertainty currently hits Indonesia’s crypto industry due to the absence of regulations on its supervising body.
Indonesia is still waiting for the government regulation on the handover of the crypto asset supervisory from the Trade Ministry’s Commodity Futures Trading Agency (Bappebti) to the Financial Services Authority (OJK). This much-awaited regulation is set to lay down the technical rules of the shift in the supervisory body. The 2023 Financial Sector Law states that the handover should take place no later than Jan. 12 next year.
But without the aforementioned government regulation, the transition team — comprising the OJK, Bank Indonesia, and Bappebti — cannot be formed. This…
