Indonesia’s financial regulators are enhancing transparency and governance in the rapidly evolving crypto asset sector by establishing clear accounting treatment guidelines. The Otoritas Jasa Keuangan (OJK), Indonesia’s Financial Services Authority, in partnership with the Ikatan Akuntan Indonesia (IAI), issued a new directive to standardize how crypto assets are reported in financial statements.

Strengthening Transparency in Digital Finance Reporting

The new guidance is contained in the Implementation Bulletin Volume 8, which addresses crypto assets owned by entities and those held on behalf of customers. This bulletin follows the Indonesian Financial Accounting Standards (SAK) and aims to foster consistency and improve the quality of financial reporting in the digital asset sector.

OJK and IAI Collaborate on Unified Crypto Accounting Standards

The initiative was launched during a technical socialization event in Jakarta. Hasan Fawzi, Head of OJK’s Financial Innovation and Digital Assets Division, explained the importance of uniform accounting practices for crypto assets.

“We want to create a safe, transparent, and integrity-driven ecosystem for crypto assets from the beginning. One key element is to present accounting treatments that are uniform, comparable across entities, and consistent with regional and global standards,” Hasan said.

The bulletin was developed jointly by OJK and IAI, based on the IFRIC Agenda Decision on “Holding of Cryptocurrencies” and adapted to Indonesia’s crypto industry context.

Rapid Growth in Indonesia’s Crypto Industry Demands Consistency

OJK noted that Indonesia’s crypto industry has grown rapidly, with more than 18 million users and transaction values reaching Rp360.3 trillion as of September 2025 (YTD).

“The potential growth in this emerging sector is vast. We will continue collaboration with IAI and industry to ensure consistent and globally aligned accounting practices,” Hasan stated.

Strategic Importance of Localized Yet Globally Aligned Guidelines

Ardan Adiperdana, Chair of the IAI National Board, emphasized the bulletin’s role as a reference for accounting professionals and crypto industry participants in Indonesia.

“We deeply appreciate OJK’s facilitation, especially Pak Hasan, which has enabled us to address many outstanding questions about crypto asset accounting,” Ardan said.

He added that the bulletin strengthens governance, credibility, and reliability of financial reporting in Indonesia’s digital asset sector.

“This bulletin marks a strategic advance in governance and financial reporting credibility for digital assets, providing Indonesia with a benchmark aligned with international standards yet tailored to local needs,” Ardan added.

PHOTO: UNSPLASH

This article was created with AI assistance.