OJK Releases Official Whitelist of Licensed Crypto Platforms

Strengthening Consumer Protection in Digital Asset Space

The Financial Services Authority (OJK) has taken a significant step in regulating Indonesia's digital financial asset market by releasing an official Whitelist of licensed Digital Financial Asset Traders (PAKD) and Registered Prospective Digital Financial Asset Traders (CPAKD). This regulatory move is part of OJK's broader effort to enhance consumer protection and maintain the integrity of digital financial asset/crypto asset activities in Indonesia.

Legal Basis and Regulatory Framework

The issuance of the Whitelist is based on Law No. 4/2023 on Financial Sector Development and Strengthening (UU P2SK) and related implementing regulations. This legal foundation empowers OJK to oversee digital financial asset trading, including crypto assets, following the transition of regulatory authority from Bappebti. The Whitelist includes entities that have obtained necessary licenses and registrations from OJK, providing a comprehensive reference for consumers to verify the legitimacy of digital asset trading platforms.

Significance for Market Participants

The publication of this list is crucial for both consumers and market participants as it:

1. Provides official verification of licensed platforms
2. Enhances market transparency
3. Protects consumers from unauthorized operators
4. Supports the development of legitimate digital asset businesses

By maintaining this Whitelist, OJK continues to strengthen its regulatory oversight in the rapidly evolving digital financial asset space.