Legal Framework Governing Cryptoassets in Indonesia

The crypto industry in Indonesia falls under the auspices of the Commodity Futures Trading Supervisory Body (Bappebti), under the Ministry of Trade (MOT) and in coordination with other institutions such as the Financial Services Authority (OJK), Bank Indonesia (BI) and the Ministry of Communication and Informatics (the MOCI).

The MOT has acknowledged cryptoassets, including but not limited to digital coins (virtual currency or cryptocurrency), as tradeable commodities for which Bappebti acts as the regulator and supervisor. Nevertheless, in January 2023, the Indonesian government enacted an omnibus law for the financial sector that will transfer the authority over cryptoassets from Bappebti to the OJK.

As regulated under Bappebti Regulation No. 8 of 2021 regarding Guidelines for Organising Crypto Asset Physical Trading Market on the Future Exchange, as lastly amended by Bappebti Regulation No. 9 of 2024 dated 16 October 2024 (together Bappebti Regulation 8/2021), cryptoassets are defined as intangible commodities in digital form, using cryptography, information technology networks and distributed ledgers to regulate the creation of new units, verify transactions and secure transactions without the intervention of other parties. In essence, cryptocurrencies may be traded if they have been approved by the head of Bappebti.

This Regulation further categorizes cryptoassets as follows:

• coins: a coin is defined as a form of cryptoasset with a separate configuration of blockchain and characteristics like a cryptoasset that appears for the first time (eg, bitcoin).
• tokens: a token is defined as a derivative product of a coin.

Specifically for the determination of cryptoassets that are permitted to be traded in Indonesia, Bappebti has enacted Bappebti Regulation No. 11 of 2022 dated 8 August 2022 regarding the Determination of the List of Tradable Crypto Assets within the Crypto Asset Physical Market, as last amended by Bappebti Regulation 2 of 2024 dated 19 February 2024 (together, Bappebti Regulation 11/2022). This regulation sets forth the list on the types of cryptoassets that are permitted to be traded in Indonesia as well as technical guidelines and requirements for the registration of new cryptoassets in Indonesia for Bappebti's approval.

Pursuant to Bappebti Regulation 11/2022, presently, there are 545 types of cryptoassets (both coins and tokens) that are permitted to be traded in Indonesia.

Excerpted from Lexology Panoramic: Cryptoassets & Blockchain 2025, published by Law Business Research.

Find the Indonesia chapter of Lexology Panoramic: Cryptoassets & Blockchain 2025 here.

 Further reading:

Regulating the Promotion or Use of Cryptoassets in Indonesia

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