Indonesian Citizens Are Increasingly Interested in Buying and Selling Crypto, Here's the Proof
The value of crypto transactions in Indonesia has increased significantly. According to the Financial Services Authority (OJK), the value of crypto transactions during January-August 2024 increased by 354% on an annual basis (yoy). Chief Executive of the Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets (IAKD) Supervisor Hasan Fawzi said that as of August 2024, the value of crypto transactions was IDR 48 trillion, up 13.37% yoy. "Accumulatively, the transaction value throughout the year until August reached IDR 344.09 trillion," said Hasan at the September 2024 Board of Commissioners Meeting, Tuesday (1/10/2024). Meanwhile, total investors as of August 2024 reached 20.9 million investors, up 13.36% yoy. Meanwhile, the OJK will take over the regulation and supervision of crypto assets from the Commodity Futures Trading Supervisory Agency (Bappebti). This is based on the mandate of the Financial Sector Development and Strengthening Law (UU PPSK) no later than January 2025. Hasan said that the supervision transition would be carried out in three phases. The initial phase will ensure a soft landing. Then the second phase is strengthening supervision and the third phase is continuous development and strengthening. He ensured that the OJK would enforce Bappebti's policies and regulations regarding crypto assets. Currently, the draft government regulation (RPP) regarding the transition of Bappebti supervision to OJK has entered the revenue hearing stage and received approval from the board of commissioners meeting. $BTC $ETH $BNB #BecomeCreator