OJK Takes the Reins: New Rules on Crypto Trading Set for Introduction

As mandated under Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (“ Law 4/2023 ”), responsibility for the regulation and supervision of digital financial assets, which is currently held by the Commodity Futures Trading Regulatory Agency (Badan Pengawas Perdagangan Berjangka Komoditi– “ Bappebti ”), must be transferred to the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) within 24 months of the new Law’s enactment. [1]