EddieJayonCrypto

 8 Jan 25

tl;dr

INDONESIA HANDOVER DIGITAL CURRENCY OVERSIGHT TO FINANCIAL WATCHDOG Indonesia is transitioning oversight of the digital asset sector from the Trade Ministry to the Financial Services Authority (OJK) as a new law approaches. The amended Financial Sector Law, effective January 12, 2025, grants jurisd...

Indonesia hands over digital currency oversight to financial watchdog

Indonesia is transitioning oversight of the digital asset sector from the Trade Ministry to the Financial Services Authority (OJK) as a new law approaches. The amended Financial Sector Law, effective January 12, 2025, grants jurisdiction over 'crypto' to OJK, replacing the Commodity Futures Trading Agency. OJK is preparing for a gradual handover over the next two years, aiming to refine regulations and provide support to virtual asset service providers (VASPs). Stakeholders generally welcome the transition, believing OJK's oversight will benefit investors, although some criticize the slow pace of the transition. Indonesian VASPs have also called for the scrapping of value-added tax (VAT) on digital asset transactions. Despite this, Indonesia remains one of the world's largest digital asset hubs.


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 8 Jan 25
 8 Jan 25
 8 Jan 25