Indonesia's Financial Services Authority (OJK) announced on 4 December 2025 that it had issued OJK Regulation No. 23 of 2025, amending OJK Regulation No. 27 of 2024 on the trading of digital financial assets, including crypto assets, and bringing derivatives of digital financial assets within the scope of its rules.
The regulation expands the definition of digital financial assets to include crypto assets and their derivatives, and sets criteria that traded assets must meet, including the use of distributed ledger technology. OJK said the changes were intended to strengthen the role and expand the scope of digital asset trading operators, adopting frameworks aligned with financial sector standards and international practice.
APPROVAL REQUIRED FOR DERIVATIVES TRADING
Under the amended rules, an exchange that intends to facilitate trading in digital financial asset derivatives must first obtain approval from OJK. Licensed traders may buy and sell such derivatives on behalf of consumers on an approved exchange without separate prior approval, provided they have a cooperation agreement with the exchange and notify OJK in writing.
The regulation also restricts what can be traded. Exchanges may not facilitate transactions in assets that are not included in the official list of digital financial assets approved for trading.
CONSUMER PROTECTION MEASURES
The regulation introduces safeguards for retail participants. Prospective derivatives traders must pass a knowledge test administered by their trader before they are permitted to trade, and margin placed by consumers, whether in cash or in digital financial assets, must be held in segregated accounts.
OJK linked the update to the strong growth of crypto trading in Indonesia and the emergence of derivative products that resemble instruments in the traditional financial sector, which it said required oversight consistent with international standards.