DIGIVESTASI - OJK Takes Over Regulation and Supervision of Crypto Assets from Bappebti. The regulation and supervision of digital financial assets and crypto assets have officially shifted from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK). So, how prepared is OJK for this major transition?

Hasan Fawzi, Executive Head of Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets Supervision at OJK, assured that the OJK is ready to embrace the change. "So far, everything is progressing as planned. We will issue initial regulations in the form of OJK Regulations (POJK) and their implementing rules through OJK Circular Letters (SE). Currently, these documents are in the final stages of drafting and harmonization with the Ministry of Law," Hasan explained in Jakarta on Friday, November 15, 2024.

Hasan also guaranteed that the new regulations will provide legal certainty for players in the crypto industry. He emphasized that licenses previously issued by Bappebti will remain valid, so licensed industry players will not need to undergo a re-licensing process.

"All licenses issued by Bappebti, including those for exchanges, clearing institutions, storage institutions, and traders, will be recognized by OJK. We will simply align their platforms with the applicable regulations," he stated. This move is expected to strengthen Indonesia's crypto ecosystem by providing legal certainty and more integrated regulations.