Indonesia operates a live digital financial asset trading regime under Law No. 4 of 2023 as amended by Law No. 4 of 2026 (promulgated 17 Jun 2026; JDIH also lists Tanggal Berlaku 17 Jul 2026) and POJK 27/2024 as amended by POJK 23/2025, treating crypto including stablecoin-like tokens as listed trading assets rather than payment instruments. Payment use is barred; an approved means-of-transaction pathway is not payment permission. Offering and issuer reserve rules remain draft, and the June 2026 sandbox graduation of a rupiah stablecoin issuer model is model clearance, not a live product rulebook.
Applicable Laws:
Law No. 4 of 2023 (P2SK Law) - https://www.bi.go.id/en/tentang-bi/profil/uu-bi/UndangUndang%20BI/The-Consolidation-of-Law-on-Bank-Indonesia.pdf
OJK Regulation Number 27/2024 Concerning The Operation of Digital Financial Asset Trading, Including Crypto Assets - https://iru.ojk.go.id/IRU/Image/Migrasi/uploads/regulation/files/file_dbcb2814-e863-4332-80c4-f311a33c9e5f-17042025221106.pdf
PMK No. 50 of 2025 (crypto VAT and income tax) - https://www.pajak.go.id/index.php/id/artikel/beli-kripto-tidak-lagi-kena-ppn
Draft OJK Regulation on Digital Financial Asset (AKD) Offerings - https://www.ssek.com/blog/indonesia-issues-draft-ojk-regulation-on-digital-financial-asset-offerings/
OJK Regulation Number 23/2025 concerning Amendment to POJK 27/2024 concerning Provision of Trading of Digital Financial Assets Including Crypto Assets - https://iru.ojk.go.id/iru/FW/Attachment/PreviewFile?file=MvH658jmCj2X47%2FkfAHnQAp%2FPJ7dfgOABqd3c2Mocmmn%2BPl%2BXHl5j3m3PfAsMWQU_162616ajSH_Eng_OJK%20Regulation%2023%202025_Amendment%20to%20POJK%2027%20Of%202024%20concerning%20Provision%20of%20Trading%20of%20Digital%20Financial%20Assets%20Including%20Crypto%20Assets.pdf
Government Regulation No. 49 of 2024 on Transfer of Regulation and Supervision of Digital Financial Assets, including Crypto Assets - https://www.hsfkramer.com/notes/fintech/2025-posts/ojk-assumes-regulatory-oversight-of-digital-financial-assets
Law No. 4 of 2026 amending Law No. 4 of 2023 (P2SK) - https://jdih.kemenkeu.go.id/dok/uu-4-tahun-2026
