**Regulated by BI and OJK, Digital Financial Assets including Crypto Assets – Tribunnews.com**
In a significant move, the Ministry of Trade, through the Commodity Futures Trading Supervisory Agency (Bappebti), has transferred the regulation and supervision of digital financial assets, including crypto assets and financial derivatives, to the Financial Services Authority (OJK) and Bank Indonesia (BI).
**The Handover Ceremony**
The transition of regulatory duties and supervision was marked by the signing of a Handover Deed and Memorandum of Understanding at the Ministry of Trade office in Jakarta on Friday, January 10, 2025. The signing ceremony was attended by Minister of Trade Budi Santoso and Chairman of the OJK Commissioner Board Mahendra Siregar.
Minister Budi Santoso emphasized that the transfer of regulatory duties and supervision was done to provide legal certainty for the digital financial sector and financial derivatives. The Ministry continues to support a transparent transition to ensure safety for market participants and economic actors.
“We believe that this step will bring long-term benefits to the financial sector and the physical crypto asset market in Indonesia,” said Minister Budi Santoso.
**The Legal Framework**
The transfer of regulatory duties from Bappebti to OJK covers Digital Financial Assets (AKD), including crypto assets and financial derivatives in the capital market. Meanwhile, the transfer to Bank Indonesia includes financial derivatives with underlying instruments in the Money Market and Foreign Exchange Market.
This transfer of duties from Bappebti to OJK and Bank Indonesia is in accordance with the mandate in Article 8 number 4 and Article 312 paragraph (1) of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK). It is also mandated by Government Regulation Number 49 of 2024 concerning the Transfer of Regulatory and Supervisory Duties for Digital Financial Assets including Crypto Assets and Financial Derivatives. The full transfer from Bappebti to OJK and Bank Indonesia will be completed within 24 months from the enactment of UU P2SK, which falls on today, January 10, 2025.
**Ensuring Financial Stability**
In addition to receiving the transfer of AKD AK duties, OJK will also take over the regulation and supervision of financial derivative instruments with underlying securities such as stock indices and foreign single stocks. This transfer aims to promote the application of the principle of same activity, same risk, and equal regulation.
Mahendra expressed that this transfer is an effort to maintain financial system stability and deepen the integrated financial market. It also aims to uphold public trust in consumer protection principles, thus positively impacting industry development in the financial sector.
“To ensure a smooth transition of regulatory and supervisory duties, OJK has prepared digital licensing systems for AKD AK and Financial Derivatives through the Integrated Licensing and Registration System (SPRINT),” Mahendra added.
In conclusion, OJK and Bappebti have coordinated and committed to supporting the development and strengthening of the entire financial derivatives ecosystem in line with their respective authorities. This strategic collaboration aims to ensure a seamless transition that avoids market disruptions and fosters a conducive environment for the financial industry in Indonesia.
