Indonesia
Overview
Indonesia operates under a comprehensive and evolving crypto framework anchored in the Omnibus Financial Law (P2SK, 2023) and Bappebti Regulation 5/2019, with the Financial Services Authority (OJK) now serving as primary regulator; licensing triggers include operating a crypto exchange or blockchain-related business (KBLI 62014), requiring Indonesian incorporation as a PT or PT PMA registered through the Ministry of Investments portal with a valid NIB. OJK mandates ongoing equity maintenance, robust AML/KYC systems covering customer identification and transaction monitoring, cryptographic security controls, risk management frameworks, consumer protection measures, and periodic reporting, supported by a notarized dossier including beneficial ownership disclosures. A material tax transition is underway: PMK 50/2025 and PMK-504 (effective 2025) shift crypto oversight to OJK supervision, exempt crypto asset sales from VAT while applying 12% VAT to exchange service fees, and require approved exchanges to collect and remit 0.21% PPh on behalf of traders. (ojk.go.id, pajak.go.id)
Regulatory Bodies
Local Presence: Indonesian incorporation (e.g., via Ministry of Investments portal); local directors, business plans proving viability, and technical infrastructure readiness.
Financial Services Authority (OJK): Primary regulator since January 10, 2025, supervising trading, exchanges, settlement, clearinghouses, custodians, and asset dealers.
Commodity Futures Trading Regulatory Agency (BAPPEBTI): Former regulator until the 2025 transition to OJK; previously oversaw crypto as commodities.
Operating Models
9/9 verdictsCan specific business models operate in Indonesia? Each card answers the operational question for one kind of operator. Curated cells reflect counsel-grade review; AI-generated cells should be confirmed before relying on them.
Conditional · high burden.
AI · UnreviewedConditional · high burden.
AI · UnreviewedConditional · no licensing.
AI · UnreviewedConditional · high burden.
AI · UnreviewedConditional · high burden.
AI · UnreviewedConditional · high burden.
AI · UnreviewedConditional · high burden.
AI · UnreviewedConditional · high burden.
AI · UnreviewedConditional · high burden.
AI · UnreviewedPrimary Legislation
| Law / Regulation | Year | Scope |
|---|---|---|
| Omnibus Financial Law (P2SK) (2023) | 2023 | Omnibus Financial Law (P2SK) (2023) — Transfer of crypto oversight from Bappebti to OJK |
| Bappebti Regulation 5/2019 (amended) (2019) | 2019 | Bappebti Regulation 5/2019 (amended) (2019) — Crypto asset trading as commodity futures |
Licensing Requirements
OJK — Financial services authority — VASP oversight (from Jan 2025)
Bappebti — Former crypto commodity regulator (authority transferred to OJK Jan 2025)
PPATK — Financial intelligence unit — AML compliance
Capital: As above; OJK enforces ongoing equity maintenance and can demand extras.
AML/KYC: Mandatory robust systems, including customer identification, transaction monitoring, cryptographic protocols, and security controls; integrated into operating procedures.
Local Presence: Indonesian incorporation (e.g., via Ministry of Investments portal); local directors, business plans proving viability, and technical infrastructure readiness.
Other: Risk management, consumer protection, periodic/incidental reporting to OJK; NIB (Business ID) and KBLI 62014 for blockchain activities.
Register company (PT/PT PMA) via Ministry of Investments portal and obtain NIB.
Prepare dossier: Business plan, beneficial owner details, statutes, capital proof, AML/KYC/security schemas (translated to Indonesian, notarized).
Submit to OJK (sandbox graduates apply within letter validity; others directly).
OJK review (months-long): Inspects docs, reputation, operations; may reject/return for fixes.
POJK 27/2024: OJK rules on DFA trading, storage, risk, consumer protection (covers exchanges/custodians/traders). [https://www.legal500.com/guides/chapter/indonesia-blockchain-crypto-assets/?export-pdf]
POJK on ITSK Implementation (Article 23): Licensing for tech innovation/DFA providers via OJK. [https://ojk.go.id/en/fungsi-utama/itsk/perizinan-itsk-aset-keuangan-digital-aset-kripto/default.aspx]
BAPPEBTI Reg. No. 5/2019 & No. 7/2020: Defines DFA as commodities, prior exchange requirements (transitional to OJK).
AML/KYC Requirements
No verified facts yet. 12 unverified fact(s) in explorer
Travel Rule
No verified facts yet. 1 unverified fact(s) in explorer
Tax Reporting
Trading gains and sales are subject to final income tax (PPh 22 Final) at 0.21% of the gross transaction value for domestic exchanges (up from 0.1%, effective around August 2025).
For overseas or non-approved exchanges, the rate is 1% (up from 0.2%).
This is a flat final tax on transaction value, not traditional capital gains based on profit; it applies to sellers, collected by approved exchanges (PPMSEs).
Crypto-to-crypto trades may trigger VAT in some cases under PMK 50/2025, but trading gains remain under final income tax.
Mining/staking income: No special 0.1% rate; subject to standard personal or corporate income tax rates (effective 2026); mining VAT doubled to 2.2%.
Older rates (pre-2025): 0.1% domestic, 0.2% foreign; some sources note 0.12% VAT + 0.1% income tax per transaction.
Sales of crypto assets are exempt from VAT (previously 0.11%-0.22% when treated as commodities).
VAT (12%, up from 11%) applies to exchange services (commissions/fees), with base at 11/12 of fees to maintain effective burden; miners face 2.2% VAT.
Certain crypto-to-crypto trades may be VAT-taxable under 2025 rules.
Individuals/Sellers: Approved exchanges collect/remit 0.21% PPh; self-remit/report via Unification Monthly Income Tax Return if exchange fails or for limited-service/foreign platforms. Thresholds apply for foreign platforms with Indonesian users/transactions.
Businesses/Exchanges (PPMSEs): Must collect/remit taxes; report services under normal income tax (no withholding). Foreign platforms with significant Indonesian activity (e.g., IP addresses, phone codes) must comply.
Residents need tax ID; exchanges handle collection for approved ones. Exemption possible for foreign income tax if from tax treaty country (with domicile certificate).
PMK 50/2025: Reshapes crypto taxation, final income tax on trading, VAT expansions/exemptions.
PMK 37/2025: Broader digital platform rules.
PMK-504 (July 28, 2025): Aligns tax with OJK supervision; details PPh rates, collections.
PMK 50/2025 & 37/2025: https://www.itrworldtax.com/NewsAndAnalysis/Indonesias-Shift-in-Digital-Crypto-Taxation-2025-Reforms-and-Industry-Impacts/Index/2149
PMK 50/2025 & 37/2025: https://www.itrworldtax.com/NewsAndAnalysis/Indonesias-Shift-in-Digital-Crypto-Taxation-2025-Reforms-and-Industry-Impacts/Index/2149
Custody Requirements
Custody regulation data collection in progress.
Stablecoin Regulation
Stablecoin regulation data collection in progress.
Securities Classification
Securities classification data collection in progress.
Sanctions & Restrictions
Sanctions data collection in progress.
Enforcement Actions
No verified facts yet. 5 unverified fact(s) in explorer
Research & Articles
Regulatory Forecast
high confidenceLikely enforcement action expected around 2026-05-08
Based on 157 historical regulatory events for Indonesia, averaging every 8 days, with increasing regulatory activity.
Recent Updates
Indonesia Transfers Crypto Oversight from Bappebti to OJK
Indonesia completed the transfer of cryptocurrency regulatory oversight from Bappebti (commodity futures regulator) to OJK (financial services authority) under the Omnibus Financial Law P2SK. Previously, crypto was regulated as commodity futures with IDR 50B minimum capital. OJK is finalizing new requirements during a transition period. Indonesia also launched the national crypto bourse (Bursa Kripto Indonesia) in 2023.
UNVERIFIED: No primary government source found for enforcement mechanisms.
UNVERIFIED: No primary government source found for enforcement mechanisms.
UNVERIFIED: No primary government source found on enforcement mechanisms.
UNVERIFIED: No primary government source found on enforcement mechanisms.
Brazil (noted as regional benchmark, but Indonesia referenced in transfer) implemented detailed secondary rules on li...
Brazil (noted as regional benchmark, but Indonesia referenced in transfer) implemented detailed secondary rules on licensing for virtual asset service providers; Indonesia's shift to OJK implies similar licensing evolution under financial supervision.https://www.chainalysis.com/blog/2025-crypto-regulatory-round-up/
Indonesia is developing a structured regulatory framework for crypto assets, with oversight now under OJK following t...
Indonesia is developing a structured regulatory framework for crypto assets, with oversight now under OJK following the 2025 transfer from Bappebti, treating them as financial products.3
BAPPEBTI Reg. No. 5/2019 & No. 7/2020: Defines DFA as commodities, prior exchange requirements (transitional to O...
BAPPEBTI Reg. No. 5/2019 & No. 7/2020: Defines DFA as commodities, prior exchange requirements (transitional to OJK).
OFAC sanctions apply extraterritorially: Non-US persons may face sanctions risk when transactions involve US indi...
OFAC sanctions apply extraterritorially: Non-US persons may face sanctions risk when transactions involve US individuals, US dollars, or the US financial system. This means Indonesian VASPs (Virtual Asset Service Providers) handling transactions with US nexus must comply with OFAC requirements.
Country-specific sanctions lists applicable to Indonesia
Country-specific sanctions lists applicable to Indonesia
EU or UN sanctions specific to Indonesia's crypto sector
EU or UN sanctions specific to Indonesia's crypto sector
Bank Indonesia (BI): Central bank enforcing the Currency Law, prohibiting crypto use for payments and upholding t...
Bank Indonesia (BI): Central bank enforcing the Currency Law, prohibiting crypto use for payments and upholding the rupiah as sole legal tender.
OJK Regulation No. 23/2025: Introduces a whitelist of 29 licensed digital asset platforms/exchanges; restricts un...
OJK Regulation No. 23/2025: Introduces a whitelist of 29 licensed digital asset platforms/exchanges; restricts unlisted operators, requires segregated margin accounts, user knowledge tests for derivatives, and approved asset listings.
Currency Law: Prohibits crypto payments; rupiah-only legal tender (pre-2017 BI ban on payments).
Currency Law: Prohibits crypto payments; rupiah-only legal tender (pre-2017 BI ban on payments).
For overseas or non-approved exchanges, the rate is 1% (up from 0.2%).
For overseas or non-approved exchanges, the rate is 1% (up from 0.2%).
This is a flat final tax on transaction value, not traditional capital gains based on profit; it applies to sellers, ...
This is a flat final tax on transaction value, not traditional capital gains based on profit; it applies to sellers, collected by approved exchanges (PPMSEs).
Individuals/Sellers: Approved exchanges collect/remit 0.21% PPh; self-remit/report via Unification Monthly Income...
Individuals/Sellers: Approved exchanges collect/remit 0.21% PPh; self-remit/report via Unification Monthly Income Tax Return if exchange fails or for limited-service/foreign platforms. Thresholds apply for foreign platforms with Indonesian users/transactions.
Residents need tax ID; exchanges handle collection for approved ones. Exemption possible for foreign income tax if fr...
Residents need tax ID; exchanges handle collection for approved ones. Exemption possible for foreign income tax if from tax treaty country (with domicile certificate).
UNVERIFIED: No primary enforcement records from OJK or related bodies available in results.
UNVERIFIED: No primary enforcement records from OJK or related bodies available in results.
UNVERIFIED: No primary enforcement records from OJK available in results.
UNVERIFIED: No primary enforcement records from OJK available in results.
UNVERIFIED: No primary source found on enforcement actions specific to crypto in Indonesia.
UNVERIFIED: No primary source found on enforcement actions specific to crypto in Indonesia.
UNVERIFIED: Indonesia has implemented detailed secondary rules on licensing for virtual asset service providers (VASP...
UNVERIFIED: Indonesia has implemented detailed secondary rules on licensing for virtual asset service providers (VASPs), though primary government source not identified in available data.
UNVERIFIED: No primary government source found on recent enforcement actions.
UNVERIFIED: No primary government source found on recent enforcement actions.
UNVERIFIED: No primary government or OJK enforcement actions detailed in available sources.
UNVERIFIED: No primary government or OJK enforcement actions detailed in available sources.
Indonesia is advancing a structured regulatory framework for crypto assets by shifting oversight to OJK as a financia...
Indonesia is advancing a structured regulatory framework for crypto assets by shifting oversight to OJK as a financial product regulator.[https://www.chainalysis.com/blog/2025-crypto-regulatory-round-up/]
UNVERIFIED: No primary enforcement examples from OJK or government sources identified.
UNVERIFIED: No primary enforcement examples from OJK or government sources identified.
UNVERIFIED: No primary enforcement actions or guidelines sourced from OJK or government sites.
UNVERIFIED: No primary enforcement actions or guidelines sourced from OJK or government sites.
UNVERIFIED: No primary enforcement examples or guidelines found.
UNVERIFIED: No primary enforcement examples or guidelines found.
UNVERIFIED: No official enforcement actions or guidelines from OJK or other regulators cited in primary sources.
UNVERIFIED: No official enforcement actions or guidelines from OJK or other regulators cited in primary sources.
UNVERIFIED: No primary enforcement records or guidelines from OJK available in results.
UNVERIFIED: No primary enforcement records or guidelines from OJK available in results.
UNVERIFIED: No primary government or OJK enforcement examples cited in results.
UNVERIFIED: No primary government or OJK enforcement examples cited in results.
UNVERIFIED: Indonesia aligns with FATF guidelines for VASPs requiring AML/CFT measures, but no specific primary OJK o...
UNVERIFIED: Indonesia aligns with FATF guidelines for VASPs requiring AML/CFT measures, but no specific primary OJK or central bank page identified post-2025 transfer.1
UNVERIFIED: No specific enforcement actions detailed in primary sources post-transfer to OJK.
UNVERIFIED: No specific enforcement actions detailed in primary sources post-transfer to OJK.
Indonesia is developing a structured financial regulatory framework for crypto under OJK as of 2025, moving beyond co...
Indonesia is developing a structured financial regulatory framework for crypto under OJK as of 2025, moving beyond commodities oversight.4
UNVERIFIED: Indonesia's framework emphasizes AML-only oversight historically, but no primary OJK or central bank sour...
UNVERIFIED: Indonesia's framework emphasizes AML-only oversight historically, but no primary OJK or central bank source confirms current VASP-specific AML/CFT rules post-transfer.https://www.chainalysis.com/blog/2025-crypto-regulatory-round-up/
UNVERIFIED: No primary source found detailing enforcement mechanisms post-OJK transfer.
UNVERIFIED: No primary source found detailing enforcement mechanisms post-OJK transfer.
No primary government source found on enforcement actions or mechanisms for crypto regulations.
No primary government source found on enforcement actions or mechanisms for crypto regulations.
UNVERIFIED: Indonesia follows FATF guidelines for VASPs with AML/CFT measures, but no specific Indonesian central ban...
UNVERIFIED: Indonesia follows FATF guidelines for VASPs with AML/CFT measures, but no specific Indonesian central bank or regulator page cited.1
UNVERIFIED: No enforcement actions or mechanisms detailed in primary Indonesian regulator sources.
UNVERIFIED: No enforcement actions or mechanisms detailed in primary Indonesian regulator sources.
No primary government source found for enforcement actions.
No primary government source found for enforcement actions.
Indonesia has restructured crypto regulation by moving oversight to OJK in 2025, treating crypto as a financial produ...
Indonesia has restructured crypto regulation by moving oversight to OJK in 2025, treating crypto as a financial product, but comprehensive frameworks for VASPs remain developing without detailed primary legislation published.4
UNVERIFIED: No primary government source found detailing enforcement mechanisms.
UNVERIFIED: No primary government source found detailing enforcement mechanisms.
UNVERIFIED: No primary government or OJK source found on recent enforcement actions.
UNVERIFIED: No primary government or OJK source found on recent enforcement actions.
No primary government source found for enforcement details; UNVERIFIED: enforcement expected under OJK post-transfer,...
No primary government source found for enforcement details; UNVERIFIED: enforcement expected under OJK post-transfer, but specifics not detailed.4
UNVERIFIED: No primary enforcement actions or guidelines documented post-transfer.
UNVERIFIED: No primary enforcement actions or guidelines documented post-transfer.
UNVERIFIED: No primary enforcement actions or cases detailed in government sources.
UNVERIFIED: No primary enforcement actions or cases detailed in government sources.
Jurisdiction-specific regulatory frameworks beyond brief mentions of a few countries (Brazil, Indonesia, Philippi...
Jurisdiction-specific regulatory frameworks beyond brief mentions of a few countries (Brazil, Indonesia, Philippines, Australia, Canada, UAE, California)
UNVERIFIED: No primary enforcement actions detailed by OJK or government sources.
UNVERIFIED: No primary enforcement actions detailed by OJK or government sources.
UNVERIFIED: No primary source found for enforcement actions or mechanisms.
UNVERIFIED: No primary source found for enforcement actions or mechanisms.
UNVERIFIED: No primary regulator source found on enforcement actions or mechanisms.
UNVERIFIED: No primary regulator source found on enforcement actions or mechanisms.
UNVERIFIED: Enforcement actions by OJK against crypto firms post-transfer not detailed in primary sources.
UNVERIFIED: Enforcement actions by OJK against crypto firms post-transfer not detailed in primary sources.
UNVERIFIED: No primary enforcement examples or mechanisms detailed in government sources.
UNVERIFIED: No primary enforcement examples or mechanisms detailed in government sources.
UNVERIFIED: No primary enforcement actions detailed from OJK or government sources.
UNVERIFIED: No primary enforcement actions detailed from OJK or government sources.
Indonesia has implemented structured oversight of crypto assets through the transfer of authority to OJK in 2025, tre...
Indonesia has implemented structured oversight of crypto assets through the transfer of authority to OJK in 2025, treating them as financial products rather than commodities4.
The search results discuss regulatory frameworks in jurisdictions like Brazil, Indonesia, the Philippines, Australia,...
The search results discuss regulatory frameworks in jurisdictions like Brazil, Indonesia, the Philippines, Australia, Canada, the UAE, and US states, but they do not provide the detailed primary source citations (government gazette URLs, regulator websites, central bank links) that your parser requires.
Bappebti Regulation 5/2019 (amended) — This regulation classifies crypto assets as tradable commodity futures und...
Bappebti Regulation 5/2019 (amended) — This regulation classifies crypto assets as tradable commodity futures under Bappebti's jurisdiction. The regulation defines technical requirements for crypto asset trading as underlying assets of futures contracts. Bappebti Regulation No. 5 of 2019 on Technical Provisions for the Implementation of Crypto Asset Physical Market Trading on Futures Exchanges Note: Amendment through Bappebti Regulation No. 8/2021 is available at Bappebti Regulation No. 8 of 2021
VASP Registration/License — As of January 2025, crypto asset trading (VASP) oversight transfers from Bappebti to ...
VASP Registration/License — As of January 2025, crypto asset trading (VASP) oversight transfers from Bappebti to OJK. Previously, under Bappebti Regulation No. 5/2019 (as amended by Regulation No. 8/2021), minimum paid-up capital for crypto asset traders was IDR 50 billion (approximately USD 3.2 million as of January 2025 exchange rate. Industry estimates suggest the licensing process under Bappebti typically required 6-12 months for approval. OJK has published a transition regulation (OJK Regulation No. 3/2024) outlining transitional provisions for entities previously registered with Bappebti. OJK Regulation No. 3 of 2024 on Transitional Provisions for Digital Financial Assets Note: This claim regarding OJK's finalized capital requirements is based on industry estimates and regulatory news; OJK's definitive post-transition VASP licensing requirements remain in development as of early 2025.
CUSTODY — Customer asset segregation is required under existing Bappebti regulations. Specifically, Bappebti Regu...
CUSTODY — Customer asset segregation is required under existing Bappebti regulations. Specifically, Bappebti Regulation No. 2/2024 requires crypto asset traders to segregate customer crypto assets from company assets, maintain separate accounts, and provide custody arrangements with approved custodians. Bappebti Regulation No. 2 of 2024 on Implementation of Crypto Asset Physical Market Trading
OJK Regulation No. 23/2025 — This entry refers to an anticipated OJK regulation that has not yet been officially ...
OJK Regulation No. 23/2025 — This entry refers to an anticipated OJK regulation that has not yet been officially published as of May 2025. Industry reports indicate OJK plans to introduce a regulation (potentially numbered 23/2025) that would establish a whitelist of licensed digital asset platforms, restrict unregistered operators, require segregated margin accounts, and mandate user knowledge tests for derivatives. This is prospective information based on OJK public statements and draft documents; no official POJK No. 23/2025 has been found on OJK's website as of the research date. A reliable news report discussing OJK's planned regulation is available: Kontan.co.id - OJK akan atur aset kripto dengan POJK baru Note: Since no official source exists, confidence is 0.0 and this is classified as anticipated regulation.
Secondary Rules on VASP Licensing — Indonesia has implemented detailed secondary regulations for VASP licensing u...
Secondary Rules on VASP Licensing — Indonesia has implemented detailed secondary regulations for VASP licensing under Bappebti (pre-2025 transfer). Bappebti Regulation No. 2/2024 provides comprehensive rules on VASP registration, capital requirements, governance, and market conduct. This regulation served as the primary legal framework for crypto asset trading licensing until the OJK transition. Bappebti Regulation No. 2 of 2024 on Implementation of Crypto Asset Physical Market Trading Note: The identifier for this fact is updated to id.licensing.bappebti-secondary-rules to reflect its confirmed status.
Timeline: The regulatory transition from Bappebti to OJK is ongoing as of early 2025. Applicants should monitor O...
Timeline: The regulatory transition from Bappebti to OJK is ongoing as of early 2025. Applicants should monitor OJK's official website for finalized VASP licensing requirements.
Capital: The prior minimum capital of IDR 50 billion under Bappebti may change under OJK's new framework. No offi...
Capital: The prior minimum capital of IDR 50 billion under Bappebti may change under OJK's new framework. No official OJK post-transition capital requirement has been published as of May 2025.
Bappebti Regulation No. 8 of 2021 (amendment)
Bappebti Regulation No. 8 of 2021 (amendment)
Bank Indonesia Exchange Rate Information
Bank Indonesia Exchange Rate Information
Overseas or non-approved exchanges carry a 1% rate (increased from 0.2%) under the same regulatory framework ...
Overseas or non-approved exchanges carry a 1% rate (increased from 0.2%) under the same regulatory framework PwC Tax Flash
Individuals/sellers on approved exchanges: Exchanges collect/remit 0.21% PPh; if the exchange fails or for limite...
Individuals/sellers on approved exchanges: Exchanges collect/remit 0.21% PPh; if the exchange fails or for limited-service/foreign platforms, self-remit/report via Unification Monthly Income Tax Return. Thresholds apply for foreign platforms with Indonesian users/transactions PwC Tax Flash
Residents need a tax ID; exchanges handle collection for approved ones. Exemption possible for foreign income tax...
Residents need a tax ID; exchanges handle collection for approved ones. Exemption possible for foreign income tax if from a tax treaty country (with domicile certificate) PwC Tax Flash
This profile is maintained by AI research workers and updated regularly. Connect via MCP for programmatic access.