The Financial Services Authority of Indonesia (OJK) has issued Regulation No. 27 of 2024 (POJK 27/2024) to oversee digital financial asset trading, including cryptocurrencies. This marks a significant step as the authority transitions the supervision of crypto assets from Bappebti to OJK, following the mandate of the Financial Sector Development and Strengthening Law (UU P2SK).

The new regulation outlines a three-phase transition strategy: a "soft landing" phase at the start, followed by strengthening, and then development. During the initial phase, OJK adopts and enhances Bappebti’s existing guidelines to ensure the regulation aligns with international best practices.

Under POJK 27/2024, digital financial asset trading must adhere to principles of fairness, transparency, and efficiency. Businesses must also implement robust governance, risk management, market integrity, cybersecurity measures, and anti-money laundering protocols. Additionally, operators are required to secure licenses and submit periodic and incidental reports to maintain compliance.

OJK emphasizes consumer protection and urges traders to fully understand the risks associated with digital financial assets. Operators are also encouraged to boost consumer literacy to foster informed decision-making in the market.

This regulatory move reinforces OJK’s commitment to maintaining stability in the financial sector while safeguarding consumers. The authority’s comprehensive approach aims to ensure smooth supervision of digital financial assets, laying a strong foundation for the sector's growth.