OJK Plans to Increase the Minimum Paid-up Capital for Equity Crowdfunding by 10 Times

In 2020, the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) introduced Regulation No. 57/POJK.04/2020 on Securities Offerings Through Information-Technology-Based Crowdfunding Services (“ Services ”), which was later amended by Regulation No. 16/POJK.04/2021 (collectively referred to as “ Regulation 57/2020 ”). At the time of writing, this framework still lays out the applicable regulatory groundwork, as well as the various requirements and procedures for the implementation of Services. [1]