A. Issuance of IAKD Regulations
Throughout 2024, the OJK has issued POJK Number 3 of 2024 concerning the Implementation of Financial Sector Technological Innovation (POJK 3/2024), which is a provision for the implementation of the P2SK Law. Through POJK 3/2024, OJK regulates and supervises the implementation of FSTI which includes, among others: Sandbox improvement, sandbox results and follow-up (registration or business license), monitoring and evaluation, supervision, and aspects of consumer protection, financial education, consumer personal data protection, and the development of a financial sector technology innovation center.
In addition, OJK has also issued provisions for the implementation of POJK 3/2024, namely
SEOJK Number 5 of 2024 concerning the Mechanism of Trial and Innovation Development Rooms;
SEOJK Number 6 of 2024 concerning Registration of FSTI Providers;
SEOJK Number 7 of 2024 concerning Reporting of FSTI Providers Registered with OJK; and
SEOJK Number 8 of 2024 concerning the FSTI Organizer Association.
More detailed information related to IAKD regulations that have been issued by the OJK can be seen on the Regulatory.
B. Launch of IAKD Guidelines and Guidance
- Launch of the Financial Sector Technology Innovation Provider Anti-Fraud Strategy Guide (FSTI) to mitigate the risk of fraudulent practices and build public trust.
The launch of the Cybersecurity Guideline in the IAKD Supervision Field on July 8, 2024 as a foundation in strengthening cybersecurity for FSTI Providers.
The launch of the Roadmap for the Development and Strengthening of Technological Innovation in the Financial Sector, Digital Financial Assets, and Crypto Assets 2024 - 2028 (IAKD Roadmap 2024 -2028) with the theme Welcoming the Future of Digital Finance: Laying the Foundation for Effective and Balanced Supervision.
More detailed information related to the IAKD guidelines and guidelines that have been published by the OJK can be seen on the Publication Channel > Roadmap and Guidelines for > Technological Innovation in the Financial Sector, Digital Financial Assets, and Crypto Assets.
C. Pocket Book on the Regulation and Supervision of Digital Financial Assets, including Crypto Assets
In order to fulfill the mandate of P2SK Law, the regulatory and supervisory authority over Digital Financial Assets and Crypto Assets (AKD AK) is transferred from the Commodity Futures Trading Regulatory Agency (Bappebti) to the Financial Services Authority (OJK) no later than 24 (twenty-four) months from the enactment of Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK Law). This transfer is expected to strengthen the regulation and supervision of AKD AK in implementing consumer protection, supporting financial technology innovation, and ensuring the stability of the AKD AK industry in Indonesia.
The transfer process is carried out through structured phases to ensure the smoothness and stability of industry operations and maintain market confidence (smooth landing). This approach is implemented collaboratively with all stakeholders. Furthermore, OJK has been able to complete the Pocket Book on the Regulation and Supervision of Digital Financial Assets, including Crypto Assets as as a guide for consumers and Digital Financial Asset Trade Providers, including Crypto Assets (AKD AK) , in understanding the process of transferring regulatory and supervisory authority over AKD AK.
This Pocket Book consists of 3 (three) main chapters that are systematically organized to provide clear and comprehensive guidance. The information structure in this book is also designed with a thematic and gradual approach, making it easier for readers to understand each important aspect related to the transfer of regulation and supervision of AKD AK.
This Pocket Book is also equipped with a glossary explaining terms related to AKD AK to help readers understand technical concepts. Frequently Asked Questions (FAQ) are included to answer common questions that frequently arise regarding the transfer of regulation and supervision of AKD AK, such as licensing procedures, the obligations of AKD AK Trading Providers, consumer protection mechanisms, and risk mitigation measures.
The Pocket Book on the Regulation and Supervision of Digital Financial Assets, including Crypto Assets, can be accessed through the following link: https://bukusakuiakd.com/.
