Indonesia – Financial regulator warns against facilitating sales of crypto assets

The Financial Services Authority (OJK) in Indonesia has warned financial firms not to offer, or facilitate crypto asset trading. As the value of crypto assets fluctuates, OJK warned that people buying them should understand the risks involved.

It is reported that there has been a surge in crypto assets trade in Indonesia with total transactions in 2021 reaching 859 trillion rupiah ($59.83 billion), up from just 60 trillion rupiah in 2020.

Indonesia allows sales of crypto assets in the commodities exchange and trading which is supervised by the Ministry of Trade and the Commodity Futures Trading Regulatory Agency, but not by OJK.

It is believed that the government is working to set up a separate bourse for digital assets called the Digital Futures Exchange.