Indonesia Lists 29 Licensed Crypto Platforms; OJK Tightens Rules
Indonesia’s Financial Services Authority (OJK) has released a whitelist of 29 licensed digital asset and cryptocurrency trading platforms, establishing which exchanges are authorized to operate domestically. The publication includes the names of entities and their associated applications or platforms and is intended to help users verify licensing status before transacting. OJK advised the public to use only providers included on the list and to treat any unlisted platforms as unlicensed. South Korea’s largest exchange, Upbit, is included among licensed exchanges, according to OJK.
Global crypto firms target Indonesian market
The clarification on authorized providers comes as international companies seek to expand in Indonesia. Earlier this month, Robinhood reached agreements to acquire Indonesian brokerage Buana Capital and licensed digital asset trader PT Pedagang Aset Kripto, providing entry to a market with more than 19 million capital‑market investors and about 17 million crypto traders. In September, Hong Kong–based OSL Group completed its acquisition of licensed local exchange Koinsayang, obtaining regulatory approval to offer spot and derivatives trading.
Stricter rules for digital assets
The whitelist follows OJK Regulation No. 23/2025, which strengthens oversight of digital financial assets, including cryptocurrencies and related derivatives. The regulation prohibits exchanges from facilitating trading in assets that are not registered or approved by a licensed digital asset exchange and introduces a derivatives framework that requires prior OJK approval at the exchange level. Platforms must implement margin arrangements using segregated funds or digital assets, and consumers must pass a knowledge assessment before accessing derivatives. According to the regulator, these measures are intended to align with international supervisory standards and enhance investor protection.
One of the fastest‑growing markets
Indonesia’s licensing push comes as the country consolidates its position as a major cryptocurrency market. Robinhood and industry data providers characterize Indonesia as one of Southeast Asia’s fastest‑growing crypto economies, with tens of millions of participants across capital markets and digital assets. The Chainalysis 2025 Global Crypto Adoption Index ranks Indonesia in the global top 10 for crypto adoption and highlights the country as one of the most dynamic markets, reflecting its rising role in global digital asset activity.
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