Blog Category: Legal Updates

Indonesia Issues Regulation Clearing Way for Trading of 229 Cryptoassets

Indonesia’s Commodity Futures Trading Supervisory Body (Badan Pengawas Perdagangan Berjangka Komoditi or “Bappebti”) has issued the long-awaited list of cryptoassets that can be traded in Indonesia. This list of approved cryptoassets is contained in Bappebti Regulation No. 7 of 2020 regarding the Stipulation of the List of Cryptoassets that Are Allowed to Be Traded in Indonesia Issues Regulation Clearing Way for Trading of 229 Cryptoassets

Indonesia’s New Investment List – Summary of Draft Presidential Regulation

Investment in Indonesia is subject to the Negative Investment List, or DNI. The current Negative Investment List was issued in 2016 through Presidential Regulation No. 44 of 2016 regarding the List of Business Fields that Are Closed and Business Fields that Are Conditionally Open for Investment. There are three types of business in the 2016 Indonesia’s New Investment List – Summary of Draft Presidential Regulation

Fintech in Indonesia – Financial Regulation

Fintech products and services in Indonesia are mainly regulated by two government bodies, Bank Indonesia and the Financial Services Authority (OJK). Bank Indonesia Regulation No. 19/12/PBI/2017 regarding the Organization of Financial Technology, dated 30 November 2017, regulates fintech activities that require licensing or registration in relation to monetary stability, financial system stability and payment systems, Fintech in Indonesia – Financial Regulation

Establishing a Business in Indonesia – Directors and Board Composition

Under the Indonesian Company Law, individuals capable of performing legal actions can be appointed as directors, except individuals who in the previous five years have been:   Declared bankrupt. Members of a board of directors or board of commissioners found to be at fault in causing a company to be declared bankrupt. Sentenced for a Establishing a Business in Indonesia – Directors and Board Composition

E-commerce in Indonesia – Defamation

As a general rule, an electronic system provider in Indonesia must maintain a reliable and secure electronic system. Under Law No. 11 of 2008 on Electronic Information and Transactions (the ITE Law), an electronic system provider shall be held responsible for the operation of its electronic system. However, in practice, it is difficult for system E-commerce in Indonesia – Defamation

SSEK Contributes Q&A Guide to Construction and Projects in Indonesia

SSEK Legal Consultants partner Denny Rahmansyah and Budi Widuro, an associate at the firm, have contributed a Q&A guide to Construction and Projects in Indonesia. The Q&A is part of the Thomson Reuters Practical Law global guide to construction and projects. Areas covered by the guide to Construction and Projects in Indonesia include trends and SSEK Contributes Q&A Guide to Construction and Projects in Indonesia

Corporate Governance in Indonesia – Board Size and Composition

In Indonesia, the size, composition and procedures for the appointment, replacement and dismissal of the board of directors (BOD) and board of commissioners (BOC) are determined in the articles of association (AOA) of the company. Law No. 40 of 2007 regarding Limited Liability Companies (the Company Law) only stipulates a minimum number of BOD and Corporate Governance in Indonesia – Board Size and Composition