Financial Technology Sandbox 2.0: New Criteria Introduced for Innovation and Mandatory Testing Plans

In 2018, the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) introduced Regulation No. 13/POJK.02/2018 on Digital Financial Innovations (Inovasi Keuangan Digital– “ IKD ”) Within the Financial Services Sector (“ Regulation 13/2018 ”), which outlined various provisions that applied to financial services institutions (Lembaga Jasa Keuangan– “ LJK ”) regarding the development of IKD. It should be noted that various IKD-related provisions that featured under the framework of Regulation 13/2018 were summarized in the following edition of Indonesian Legal Brief (“ ILB ”): “ ”.