JAKARTA, RAKYAT NEWS – The Financial Services Authority (OJK) of Indonesia is stepping up efforts to enhance public understanding of cryptocurrency assets, aiming to improve investor knowledge and foster growth in the crypto sector. In a recent statement, Hasan Fawzi, the Head of OJK’s Financial Technology and Digital Assets Innovation, emphasized the importance of financial education for crypto assets to safeguard consumers. He highlighted the role of key stakeholders, especially crypto traders, in promoting literacy and financial inclusion for digital assets.

This push for improved literacy coincides with a significant regulatory change. Since January 2025, the oversight and regulation of cryptocurrency assets were transferred from the Ministry of Trade (Kemendag) and the Commodity Futures Trading Regulatory Agency (Bappebti) to OJK. This shift is mandated by Indonesia’s Financial Sector Development and Strengthening Law (UU PPSK) and Government Regulation No. 49/2024 on the Transfer of Digital Asset Oversight to OJK.

In response to this transition, OJK has developed a structured strategic framework to accommodate market dynamics, encourage innovation, and maintain stability and protection for all involved stakeholders. This framework outlines a three-phase approach for strengthening crypto literacy, which is set to unfold gradually and systematically.

The first phase of OJK’s plan is the transition phase. During this period, the authority is focused on ensuring a smooth handover of responsibilities, aiming to build market confidence and stability. This “smooth landing” approach seeks to minimize disruptions in the crypto ecosystem while the regulatory oversight is transferred.

The second phase focuses on development. Here, OJK will evaluate existing regulations, licensing processes, and supervision mechanisms. The goal is to refine these areas, aligning them with evolving market conditions and technological advancements to ensure that the regulatory environment remains effective and relevant.

The final phase, which is the strengthening phase, will prioritize sustaining and innovating within the crypto sector. During this phase, OJK plans to support the normal functioning of crypto trading activities, introducing new products and services that cater to the growing needs of society. This phase aims to build a robust and dynamic market environment.

Hasan Fawzi stressed that while digital assets, including cryptocurrencies, present significant potential to drive innovation in the financial sector and enhance transaction efficiency, they also come with inherent risks. These risks include market volatility, the potential for misuse in illegal activities, and the threat to the stability of the broader financial system. Effective regulation and oversight are key to managing these challenges.

Tirta Karma Senjaya, the Head of Bappebti, acknowledged the positive contributions of crypto assets to the national economy. He highlighted that OJK’s sandbox initiative would provide a broader platform for innovation in the crypto ecosystem, promoting growth and technological advancement.

Robby, the Chairman of the Indonesian Crypto Asset Traders Association (Aspakrindo), reaffirmed the industry’s commitment to expanding the crypto ecosystem in a responsible and accessible manner. He emphasized the importance of investor security, underscoring that strong regulations and tight supervision are essential for creating a healthy and sustainable crypto market. (Uki Ruknuddin)