The Indonesian Financial Services Authority (OJK) has published a whitelist of 29 licensed crypto platforms, officially detailing which exchanges are legally allowed to operate in the country.
The list, which includes names of entities and their applications or platforms, is intended to serve as an official reference for users to verify whether a provider has the appropriate license before operating.
OJK has urged the public to transact only with listed entities and to treat unlisted platforms as unlicensed operators.
Global crypto players eye Indonesia
The clarification of who can legally offer crypto services comes as global players move to consolidate their footholds in Indonesia.
Robinhood signed deals earlier this month to acquire Indonesian brokerage Buana Capital and licensed digital asset trader PT Pedagang Aset Kripto, a move that gives it entry into a market with more than 19 million capital market investors and around 17 million cryptocurrency traders.
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Hong Kong-based OSL Group completed the acquisition of local licensed exchange Koinsayang in September, gaining regulatory approval to offer spot and derivatives trading.
Related: Survey Finds 6 in 10 of Asia’s Rich Plan to Increase Crypto Purchasing
Strengthen supervision of digital assets
The whitelist follows OJK Regulation No. 23/2025, which strengthens the supervision of digital financial assets, including cryptocurrencies and related derivatives. The rule prohibits exchanges from facilitating trading in assets that are not registered or approved by a licensed digital asset exchange, and introduces a framework for digital asset derivatives that requires prior OJK approval at the exchange level.
Platforms must implement margin mechanisms through segregated funds or digital assets, and consumers must pass a knowledge test before accessing derivatives. These are measures that, according to the regulator, were designed to align with international supervisory standards and strengthen investor protection.
Related: Ripple’s big win in Singapore: what the expanded license now allows
Among the fastest growing markets worldwide
Indonesia’s tightening control over licensing comes as the country cements its place as a major crypto market. Robinhood and industry data providers describe Indonesia as one of Southeast Asia’s fastest-growing crypto economies, with tens of millions of investors in the digital asset and capital markets.
Chainalysis’ Global Cryptocurrency Adoption Index 2025 places Indonesia in the global top 10 for crypto adoption and notes that the country has been among the most dynamic markets in the world, highlighting its growing presence in global digital asset activity.
