JAKARTA – Financial Services Authority (OJK) will take over the supervisory role on crypto asset from Commodity Futures Trading Regulatory Agency (Bappebti) on January 10, 2025, following several designed measures for this transition.

Mahendra Siregar, Chief of Board of Commissioners of OJK, mentioned that as of now, all required regulations have been published. It only waits for the Government Regulation (PP) bill to soon be passed.

The next transition, said Siregar, is to transfer Bappebti, which previously works under Ministry of Trading, to OJK.

“We have already discussed this with the Minister of Trading in order to ensure that this process takes place according to the official format,” added Siregar after opening stock trading session yesterday (2/1).

Siregar also believed that the transition of Bappebti from Ministry of Trading to OJK will not pose any major challenges, as it is only a matter of administration.

Chief Executive of Technology Innovation Supervision of Financial Sector, Digital Financial Asset, and Crypto Assets of OJK, Hasan Fawzi, made sure that the transition will not obstruct any license and services previously authorised by Bappebti.

“Even the current licensing processes in Bappebti will proceed without the necessity to restart it from the beginning,” added Fawzi. (KR/ZH)