Indonesia OJK Regulation No. 27/2024

POJK 27/2024 defines a digital financial asset as a financial asset stored or represented digitally, including crypto assets. It defines crypto assets as digital representations of value that may be stored and transferred using distributed-ledger technology such as blockchain, are not guaranteed by a central authority such as a central bank, and may include backed and unbacked crypto assets.

The regulated trading ecosystem includes exchanges, clearing-guarantee and settlement institutions, digital asset storage providers, digital financial asset traders, and other parties designated by OJK. These organizers must obtain OJK business licenses, with traders also treated as financial sector technological innovation and digital financial asset organizers.

Digital financial assets traded in Indonesia’s digital financial asset market must satisfy statutory criteria, including DLT-based issuance, storage, transfer, or trading, and must not come from or be used in unlawful activity. POJK 27/2024 also states that it does not regulate initial offerings of digital financial assets. OJK may evaluate traded digital financial assets and can prohibit or order cessation of trading in specific assets.

For crypto assets, the exchange is responsible for setting the official crypto asset list. Trading organizers may not trade crypto assets outside the list, and exchanges must apply prudential and consumer-protection principles when analyzing assets for listing.

The regulation requires organizers to operate trading in a regular, fair, transparent, and efficient manner while applying governance, risk management, market integrity, system security, consumer protection, AML/CFT controls, personal-data protection, and other legal requirements. Business license applications are submitted through OJK’s licensing system.

Customer money and digital assets are subject to placement and custody rules. Consumers must first place transaction funds in a separated account or digital financial assets in a trader wallet, and placement of digital assets applies travel-rule principles. Traders must place 100% of managed customer funds with the clearing-guarantee and settlement institution, and the regulation sets wallet, due-diligence, and security controls for storage providers.

POJK 27/2024 also imposes market-abuse prevention, monitoring, and incident-reporting duties, plus periodic reporting obligations including daily, monthly, quarterly, and annual reports. Consumer-facing information must be clear, complete, accurate, honest, accessible, and not misleading, and trading organizers remain subject to OJK consumer-protection, anti-fraud, AML/CFT, and personal-data rules.