JAKARTA - The number of cryptocurrency investors in Indonesia increased by 2.2% to 22.11 million in November 2024, up from 21.63 million in the previous month.

The surge in investor numbers was also accompanied by a sharp upturn in transaction value, which soared 68% to Rp81.41 trillion. In October 2024, the total value of crypto transactions in Indonesia was Rp48.44 trillion.

Hasan Fawzi, Chief Executive of Financial Sector Innovation, Digital Financial Assets, and Crypto Assets Supervision at OJK, stated that the growing interest in cryptocurrency assets is not limited to Indonesia but is also seen globally.

“Global dynamics have contributed to a bullish trend for crypto assets,” Hasan said during a press conference on Tuesday (7/1).

From January to November 2024, total crypto asset transactions in Indonesia reached Rp556.53 trillion, marking a year-on-year (yoy) increase of over 376%.

As reported previously by IDNFinancials, the Financial Services Authority (OJK) will take over the task of supervising crypto assets starting 10 January 2025. Prior to this, this responsibility fell under the authority of the Commodity Futures Trading Regulatory Agency (Bappebti).

Following this transfer of duties, OJK plans to collaborate more actively with various institutions, including the Attorney General's Office and the Financial Transaction Reports and Analysis Center (PPATK), to prevent and combat money laundering through crypto assets. (KR/ZH)