Indonesia Unveils Whitelist of 29 Licensed Crypto Platforms

Indonesia’s OJK released a whitelist of 29 licensed crypto platforms, urging users to avoid unlisted operators. The move aims to boost consumer protection, clarify regulations, and enforce strict penalties for illegal trading.

Indonesia’s Financial Services Authority (OJK) has published an official whitelist of 29 licensed crypto platforms, including major names such as Indodax, Tokocrypto, Upbit, Luno, and Pintu. This move aims to enhance consumer protection, clarify the legal landscape, and strengthen oversight of the digital asset market. The whitelist also features four licensed infrastructure providers and is intended as a reference for users to verify the legality of platforms before trading. OJK urges the public to use only listed platforms, warning that unlisted operators are illegal and pose significant risks. Enforcement actions against unlicensed platforms are expected to increase, with severe penalties including prison sentences and substantial fines. The regulator also cautions against platforms making unrealistic profit claims, highlighting the risk of fraud. The transition of crypto oversight from Bappebti to OJK integrates crypto supervision into broader financial regulation, aiming for consistency and improved investor protection. The whitelist will be updated periodically to reflect market changes, marking a significant step in Indonesia’s efforts to centralize and strengthen crypto market regulation.