On 29 October 2021, the Commodity Futures Trading Regulatory Agency (in Indonesian, Badan Pengawas Perdagangan Berjangka Komoditi), enacted new Regulations on the trading of crypto assets as a future commodity.*

The previous regulations on the topic, recently introduced, were the first time the Indonesian government legislated for the trading of crypto assets in Indonesia. The initial regulatory framework was broad. While these new Regulations replace the previous ones – rather than introducing an entirely new regulatory framework, they introduce more detail into the framework established by the previous regulations.

Generally, the new Regulations introduce more detail to the way in which traders and markets obtain approval from the Agency to trade crypto-assets. The new Regulations also introduce higher capital thresholds for markets as well as for traders. For example, traders must now maintain a minimum of Rp80 billion (approximately US$5.5 million) paid-up capital. The general purpose of the new Regulations is to ensure the security and stability of the markets and to introduce and regularise standard best practice in trading.

Traders already registered prior to 29 October 2021 have until the end of April 2022 to comply with the new Regulations.

The Regulations do not apply to any initial coin or token offerings.

* Bappebti Regulations No. 8 of 2021 concerning the Guidelines on the Conduct of Crypto Assets Physical Market Trading in Futures Exchange.