Indonesia plans to task OJK with crypto market regulation

Indonesia plans to task OJK with crypto market regulation

FILE PHOTO: Indonesia's Finance Minister Sri Mulyani Indrawati speaks during a side event on the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 14 July 2022. Made Nagi/Pool via REUTERS

Indonesia plans to move the regulation, supervision, and oversight of cryptocurrency investments to the Financial Service Authority (OJK) to better protect investors, its finance minister said on Thursday.

Currently, the Trade Ministry and the Commodity Futures Trading Regulatory Agency jointly oversee cryptocurrency in Southeast Asia’s largest economy, where there has been a boom in such investments.

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