The Financial Services Authority (OJK) has issued OJK Regulation (POJK) No. 23 of 2025, amending POJK No. 27 of 2024 on the trading of digital financial assets, including cryptocurrencies (04/12).

The new regulation aims to respond to the growing adoption of digital financial assets, especially cryptocurrencies, as investment instruments in Indonesia. It also addresses new products and activities resembling conventional financial instruments, such as digital asset derivatives.

Expanded Scope for Digital Financial Assets

POJK 23/2025 broadens the scope of digital financial assets, which now includes cryptocurrencies and other digital financial assets, including derivatives.

Trading of digital financial assets on authorized markets must follow specific criteria. These include issuance, storage, transfer, and/or trading using distributed ledger technology or referencing underlying digital financial assets.

Trading platforms are prohibited from offering digital financial assets that are not listed in the Digital Financial Assets List approved by the exchange.

Rules for Digital Asset Derivatives Trading

The regulation introduces clear rules for trading derivatives of digital financial assets. Exchanges planning to conduct derivatives trading must first obtain approval from OJK.

Traders can buy and sell derivatives on behalf of consumers on approved exchanges without obtaining separate OJK approval. However, this must be based on a cooperation agreement between the trader and the exchange.

Traders executing derivatives trading for consumers must submit written notifications to OJK.

Consumer Protection in Derivatives Trading

Digital financial asset trading platforms must have mechanisms to place margins in dedicated accounts, either in cash or digital assets, to protect consumers during derivatives trading.

Consumers intending to trade digital asset derivatives must first pass a knowledge test conducted by the trading platform.

PHOTO: UNSPLASH

This article was created with AI assistance.