Indonesia’s Financial Services Authority, known as OJK, has released an official whitelist of 29 licensed crypto platforms that are legally permitted to operate in the country. The list names approved entities along with their corresponding apps or trading platforms and is intended to serve as a public verification tool for investors.
OJK said Indonesian users should trade only with platforms included on the list and treat any unlisted services as unlicensed operators. The regulator warned that using non-approved platforms exposes users to higher risks and falls outside regulatory protection.
The move formalizes which crypto exchanges can legally offer services in one of Southeast Asia’s largest digital asset markets and marks a further step in Indonesia’s tightening oversight of the sector.
Global firms move as OJK clarifies licensing rules
The publication of the OJK crypto whitelist comes as international crypto firms accelerate expansion plans in Indonesia.
Earlier this month, Robinhood signed agreements to acquire Indonesian brokerage Buana Capital and licensed digital asset trader PT Pedagang Aset Kripto. The transaction provides Robinhood with a direct entry into a market that includes more than 19 million capital market investors and an estimated 17 million crypto traders.
Hong Kong based OSL Group has also secured a foothold in the country. In September, the company completed its acquisition of licensed local exchange Koinsayang, allowing it to offer spot and derivatives trading services after receiving regulatory approval.
By clearly identifying which platforms are authorized, OJK has reduced uncertainty for both investors and foreign firms seeking regulatory compliant access to the Indonesian market.
OJK tightens oversight of crypto and digital asset derivatives
The whitelist follows the implementation of OJK Regulation No. 23 of 2025, which expands regulatory control over digital financial assets, including cryptocurrencies and related derivatives.
Under the regulation, exchanges are prohibited from facilitating trades in digital assets that are not registered or approved by a licensed digital asset exchange. The framework also introduces specific requirements for digital asset derivatives, which must receive prior approval from OJK before being offered to the public.
Licensed platforms are required to implement margin mechanisms using segregated funds or digital assets. In addition, consumers must pass a knowledge assessment before gaining access to derivatives trading. OJK said these measures are designed to align Indonesia’s regulatory standards with international supervision practices and to strengthen investor protection.
Indonesia’s stricter approach comes as the country continues to rank among the world’s fastest growing crypto markets. Industry data and company disclosures consistently describe Indonesia as a major center for digital asset adoption in Southeast Asia.
Chainalysis’ 2025 Global Crypto Adoption Index places Indonesia within the global top ten for crypto adoption, citing strong retail participation and growing transaction activity. Regulators have signaled that clearer rules and licensing standards are intended to support long term market stability rather than restrict innovation.
