Indonesia completed a structural handover in January 2025: supervision of crypto assets moved from Bappebti, the commodity futures regulator that had overseen the market since 2019, to the Financial Services Authority (OJK) under the 2023 financial sector omnibus law, reframing crypto as a financial instrument rather than a traded commodity. OJK Regulation 27 of 2024 carries the framework: licensed exchanges, clearing, custodians, and traders operate within a national market structure, with the CFX national bourse launched in 2023 at its center. Crypto remains barred as a means of payment; the rupiah is the only legal tender.
Indonesia is among the world's largest crypto markets by adoption, and tax policy has tracked the market's formalization: 2025 revisions raised the final income tax on domestic-platform sales while removing VAT from purchases, and imposed heavier rates on transactions through unlicensed foreign platforms.
The instruments
Financial sector omnibus law and OJK handover
Classifies crypto assets as digital financial assets under OJK supervision from January 2025, with licensing for exchanges, clearing institutions, custodians, and traders, listing standards, and consumer protection rules; Bappebti-era licenses transitioned to OJK oversight.
Crypto transaction taxation
Final income tax applies to crypto sales, with 2025 revisions adjusting rates for domestic licensed platforms, removing VAT on purchases, and penalizing use of unlicensed foreign venues with higher rates.