Indonesië

Disclaimer: The regulatory information provided below is for general informational purposes only and may not reflect the most current legal developments. Cryptocurrency regulations are rapidly evolving and can change frequently. This information should not be considered legal or tax advice. Before making any business or investment decisions, please consult with qualified legal, tax, or financial professionals familiar with your specific jurisdiction and circumstances. Always verify current regulations with official government sources and regulatory bodies.

Legal Classification & Regulatory Framework

Cryptocurrency Status

Indonesia maintains a distinctive dual approach to cryptocurrency regulation. Cryptocurrencies are legally recognized and permitted for trading as digital financial assets, but their use as a means of payment is strictly prohibited. This distinction stems from Indonesia’s Currency Law, which establishes the Indonesian Rupiah (IDR) as the sole legal tender in the country. Bank Indonesia, the nation’s central bank, has consistently maintained that no other currency—including digital currencies—may be used for payments within Indonesian territory.

Under the current regulatory framework, cryptocurrencies have been reclassified from their previous status as “tradable commodities” to “digital financial assets” (Aset Keuangan Digital). This reclassification, implemented through OJK Regulation No. 27 of 2024, reflects the government’s intention to integrate crypto assets more closely with the formal financial services sector. The shift brings cryptocurrency regulation in line with standards applied to traditional financial instruments, including enhanced investor protection requirements and stricter oversight mechanisms.

Only cryptocurrencies that appear on an officially approved whitelist may be legally traded on licensed Indonesian exchanges. This whitelist is periodically reviewed and updated by the regulatory authorities to ensure listed assets meet specific security, utility, and compliance criteria. Crypto assets must demonstrate clear utility or asset backing, utilize publicly accessible distributed ledger technology, ensure traceability, and satisfy assessment standards set by approved exchanges.

Tax Treatment

Indonesia has implemented a comprehensive tax regime for cryptocurrency transactions. Crypto assets are subject to both income tax and Value Added Tax (VAT), with rates varying based on the type of transaction and the registration status of the exchange platform used.

For transactions conducted on registered domestic exchanges, sellers are subject to a final income tax of 0.21% of the transaction value. Transactions conducted through unregistered or foreign platforms without appointed tax collectors face a higher rate of 1% of the transaction value. This tiered approach is designed to encourage traders to use domestically registered and regulated platforms.

Regarding VAT, crypto asset sales themselves are no longer subject to VAT following regulatory updates that reclassified crypto as securities rather than taxable goods. However, VAT obligations remain for services related to crypto trading. Electronic platform services that facilitate crypto transactions—including buying, selling, exchanging, deposit and withdrawal services, and wallet management—are subject to VAT at the standard rate applied to the service fees charged. Crypto mining verification services are subject to an effective VAT rate of 2.2% of the crypto asset value received by miners.

Crypto exchanges operating as registered platforms are designated as tax collection agents, responsible for withholding and remitting applicable taxes on behalf of their users. Taxpayers must declare income from crypto transactions in their annual tax returns, with the filing deadline typically falling on March 31 of the following year. Failure to comply with reporting obligations can result in administrative penalties and interest charges.

Regulatory Oversight

Indonesia’s cryptocurrency sector is overseen by multiple regulatory bodies, each with distinct responsibilities and mandates.

The Financial Services Authority (Otoritas Jasa Keuangan or OJK) serves as the primary regulator for cryptocurrency activities. Effective from January 2025, OJK assumed responsibility for regulating and supervising digital financial assets from the Commodity Futures Trading Regulatory Agency (Bappebti). OJK oversees all aspects of crypto trading, from licensing and operations to consumer protection and market integrity. The authority has issued comprehensive regulations including POJK No. 27 of 2024, which establishes the framework for digital financial asset trading.

Bank Indonesia (BI) maintains authority over Indonesia’s payment systems and monetary policy. The central bank enforces the prohibition on using cryptocurrencies as a payment method and upholds the rupiah as the only legal tender. Bank Indonesia is also developing Project Garuda, the nation’s central bank digital currency initiative for the Digital Rupiah.

The Indonesian Financial Transaction Reports and Analysis Center (Pusat Pelaporan dan Analisis Transaksi Keuangan or PPATK) functions as Indonesia’s financial intelligence unit. PPATK is responsible for collecting and analyzing Suspicious Transaction Reports (STRs), implementing anti-money laundering and counter-terrorism financing policies, and collaborating with international financial intelligence units. All crypto businesses must report suspicious transactions to PPATK.

Business Environment

Banking Relationships

The relationship between traditional banks and cryptocurrency businesses in Indonesia operates within a carefully defined regulatory boundary. While Bank Indonesia maintains strict restrictions on the use of cryptocurrencies for payment purposes, the banking sector can interact with licensed crypto businesses under specific conditions.

Licensed cryptocurrency exchanges can establish banking relationships for operational purposes, including maintaining corporate accounts and facilitating fiat currency deposits and withdrawals for their customers. However, financial services institutions regulated by OJK face restrictions on directly engaging in cryptocurrency trading or offering crypto-related investment products unless specifically authorized.

Some Indonesian banks have begun exploring blockchain technology for operational improvements in areas such as trade finance, remittances, and documentation management. PT Bank Negara Indonesia (BNI), a state-owned bank, has emerged as a pioneer in implementing blockchain technology for trade finance applications. These developments indicate growing interest in distributed ledger technology within the traditional banking sector, even as direct involvement in crypto asset trading remains limited.

Licensing Requirements

Operating a cryptocurrency business in Indonesia requires obtaining proper licensing from OJK and meeting substantial compliance requirements. The regulatory framework distinguishes between different types of market participants, including exchanges, traders, clearing houses, and custodians, each subject to specific licensing conditions.

Digital Financial Asset Traders (crypto exchanges) must maintain a minimum paid-up capital of IDR 100 billion (approximately USD 6 million) and minimum equity of IDR 50 billion (approximately USD 3 million). OJK may require additional capital based on a firm’s systemic impact assessment. Key personnel, including controlling shareholders, directors, and board members, must pass fit and proper tests conducted by OJK before assuming their positions.

Licensed operators must implement comprehensive governance frameworks covering risk management, internal controls, and compliance systems. Specific requirements include employing certified information system auditors and certified information system security professionals to ensure technical robustness and cybersecurity resilience. Platforms must maintain robust Anti-Money Laundering (AML) and Know Your Customer (KYC) programs, conduct ongoing transaction monitoring, and report suspicious activities to PPATK.

OJK has launched the Integrated Licensing and Registration System (SPRINT) to facilitate digital registration and compliance processes. This centralized platform enables more efficient submission of licensing applications and ongoing regulatory reporting. Previously licensed entities under Bappebti’s authority have been automatically recognized as licensed Digital Financial Asset Trading Providers, though reapplication and compliance with new requirements within specified transition periods is mandatory.

Innovation Support

Indonesia has demonstrated growing support for blockchain technology innovation through various government initiatives and regulatory frameworks. OJK operates a regulatory sandbox that allows fintech companies, including those working with blockchain technology, to test innovative products and services within a controlled environment before full market deployment.

The government has recognized blockchain as an integral part of the national digital economy ecosystem through Government Regulation No. 28 of 2025 on Risk-Based Business Licensing. This explicit recognition supports blockchain-based business development across multiple sectors beyond just cryptocurrency trading.

In 2024, Indonesia launched Ignit3, the country’s first government-backed Web3 program, in partnership with the Gerakan Nasional 1000 Startup Digital initiative. This program aims to foster local Web3 startups by providing mentorship and resources, demonstrating government support for blockchain innovation at the grassroots level.

Bank Indonesia’s Project Garuda represents a significant public sector blockchain initiative. This program aims to develop the Digital Rupiah as a central bank digital currency, guided by principles of monetary mandate alignment, coexistence with existing payment systems, and innovation and efficiency. The project reflects the government’s interest in leveraging blockchain technology for sovereign digital money while maintaining monetary control.

Beyond the financial sector, state-owned enterprises have begun adopting blockchain for operational improvements. PT Pelabuhan Indonesia, which manages seaports, has implemented blockchain for container monitoring and export-import documentation, reportedly reducing administrative time and mitigating fraud risks within logistics processes.

Market Characteristics

Adoption Patterns

Indonesia has emerged as one of the leading cryptocurrency markets globally in terms of adoption. The country consistently ranks among the top nations in global cryptocurrency adoption indices, driven by a large, young, and increasingly digitally-savvy population. With over 280 million people and high mobile internet penetration, Indonesia presents substantial market potential for digital asset services.

Cryptocurrency adoption in Indonesia extends beyond speculative trading to encompass diverse use cases including investment diversification, cross-border remittances, and participation in the broader digital economy. The demographic profile skews toward younger, tech-native users who are comfortable with digital financial services and mobile-first applications.

Transaction volumes have shown consistent growth even amid regulatory transitions, indicating that crypto participation has become embedded in routine retail investing behavior. The resilience of market liquidity during periods of regulatory tightening suggests sustainable, long-term market development rather than purely speculative activity.

Industry Focus

The Indonesian cryptocurrency industry is primarily centered on spot trading through licensed domestic exchanges. Major licensed platforms include Indodax, Tokocrypto, Pintu, and Reku, among others authorized to operate under regulatory oversight.

Indonesia established CFX as a state-backed cryptocurrency exchange infrastructure, separating trading activity from clearing and custody functions. This approach provides regulatory authorities with enhanced visibility into crypto trading activity while offering market participants a more transparent and protected trading environment.

Beyond trading, Indonesia shows growing interest in blockchain applications for enterprise use cases, including supply chain management, trade finance, and government services. The Indonesia Blockchain Association (ABI) and Indonesia Blockchain Society (IBS) actively promote blockchain adoption across education, commercial, and public sectors.

Regulatory Evolution

Indonesia’s cryptocurrency regulatory framework has undergone significant transformation in recent years. The transition from commodity-focused regulation under Bappebti to financial services oversight under OJK represents a fundamental shift in how digital assets are governed. This evolution reflects the government’s recognition that cryptocurrency has moved beyond a niche trading instrument to become a meaningful component of the financial system.

The new regulatory regime emphasizes investor protection, market integrity, and alignment with international standards. Requirements around capital adequacy, governance, consumer protection, and AML/CFT compliance now mirror standards applied to traditional financial institutions. This approach aims to create a more secure and reputable market that can attract both domestic and international participants.

Looking ahead, OJK has indicated plans to develop regulations for token offerings, including Initial Coin Offerings (ICOs), targeting issuance in the latter half of 2025. The regulatory framework continues to evolve as authorities balance the goals of fostering innovation while protecting consumers and maintaining financial stability.

While Indonesia is not a member of the Financial Action Task Force (FATF), it actively works with the Asia/Pacific Group on Money Laundering (APG) to align its AML policies with FATF standards. The country adopted the FATF travel rule in 2021, requiring identification of parties in crypto transactions above certain thresholds.

For Current Information:

• Financial Services Authority (OJK): https://www.ojk.go.id
• Bank Indonesia: https://www.bi.go.id
• Indonesian Financial Transaction Reports and Analysis Center (PPATK): https://www.ppatk.go.id
• Commodity Futures Trading Regulatory Agency (Bappebti): https://www.bappebti.go.id
• Directorate General of Taxes (DJP): https://www.pajak.go.id