Jakarta. The Financial Services Authority (OJK) has reaffirmed the requirement for crypto traders in Indonesia to maintain a minimum capital of Rp 100 billion (approximately $6.2 million) as it prepares to take over regulatory oversight from the Trade Ministry’s Commodity Futures Trading Supervisory Agency (Bappebti).

The OJK also retains the minimum equity requirement of Rp 50 billion for crypto traders under its new regulation, which will take effect on January 10, 2025.

While these financial requirements were already mandated under previous Bappebti regulations, the OJK has introduced stricter provisions that prohibit the use of certain capital sources. These include funds derived from money laundering, terrorism financing, the proliferation of weapons of mass destruction, loans, or other activities that violate existing laws.

The new regulation seeks to integrate Bappebti’s existing rules with enhancements designed to align with global best practices in the financial sector. It emphasizes promoting transparent, efficient, and orderly trading of financial assets.

Additionally, the regulation aims to strengthen risk management, market integrity, cybersecurity, and anti-money laundering measures. These efforts are intended to enhance consumer protection and build trust within the crypto trading sector.