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February 13, 2025 | 04:43 pm
TEMPO.CO, Jakarta - Indonesia's Financial Services Authority (OJK) stated that the total transactions of national cryptocurrency reached Rp650 trillion as of December 2024. Of this amount, Rp2 trillion worth of cryptocurrency is being transacted every day.
"Rp2 trillion per day is being transacted," said Hasan Fawzi, Chief Executive of the Financial Technology Innovation Supervisory, Digital Financial Assets and Cryptocurrencies at OJK, during a meeting with the House of Representatives (DPR) Commission XI at the Parliament complex on Thursday, February 13, 2025.
Hasan also presented to the members of the parliament the OJK's work plan and processes following the transfer of regulatory and supervisory functions for digital financial assets, including cryptocurrencies and financial derivatives, from the Commodity Futures Trading Regulatory Agency (Bappebti) to OJK on January 10, 2025.
As of December 2024, Hasan reported that there were 22.91 million cryptocurrency user accounts or investors. He also noted that tax revenue from cryptocurrency trading reached Rp620 billion by December 2024. Cumulatively, tax revenue from cryptocurrencies over the past two years reached Rp1.09 trillion.
The OJK has previously assured that its supervision and regulation of crypto assets will not compromise the essence of decentralization in cryptocurrencies.
Cryptocurrency trading currently uses blockchain technology, which distributes transaction processing across a network rather than centralizing it under a single authority. This means that third parties, such as supervisory institutions, are not directly involved in every crypto asset transaction.
OJK's oversight of crypto assets is intended to ensure that crypto activities are conducted safely, fairly, orderly, and efficiently. Additionally, it is deemed to minimize risks that could harm various parties involved in crypto asset transactions.
Editor's Choice: OJK Takes Over Crypto Asset Supervision Function, What About the Decentralization Concept?
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