Crypto as Commodity Regulations in Indonesia: What Changed in 2025

Home > Crypto as Commodity Regulations in Indonesia: What Changed in 2025
Crypto as Commodity Regulations in Indonesia: What Changed in 2025
Johnathan DeCovic Nov 23 2025 7

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Based on Indonesia's 25% capital gains tax rate under OJK regulations effective August 2025. Note: Actual tax may vary based on specific circumstances and official guidelines.

Indonesia used to treat cryptocurrency like gold or coffee beans-something you could trade on a futures exchange, but not use to buy coffee. That changed in 2025. The rules didn’t just get tighter; they were completely rewritten. If you’re trading crypto in Indonesia today, you’re not dealing with a commodity regulator anymore. You’re under the watch of the country’s main financial watchdog, and the stakes are higher than ever.

The Big Shift: From BAPPEBTI to OJK

Before January 10, 2025, the Commodity Futures Trading Regulatory Agency (BAPPEBTI) controlled crypto trading. They didn’t care if you were buying Bitcoin or Dogecoin. As long as you followed AML and KYC rules, you could trade over 850 different digital assets. It was a free-for-all. Exchanges listed whatever they wanted. There were no capital requirements. No real oversight. Just a list of approved coins and a few basic rules.

That ended when Financial Services Authority (OJK) took over. The change wasn’t cosmetic. It was structural. Law No. 4 of 2023 gave OJK full authority to regulate crypto as a digital financial asset, not a commodity. That means crypto is now treated like stocks, bonds, or mutual funds-not like soybeans or crude oil. The shift was meant to bring crypto into the formal financial system, not keep it on the sidelines.

What This Means for Crypto Businesses

If you run a crypto exchange or trading platform in Indonesia, you now need to meet strict financial standards. The minimum paid-up capital? IDR 100 billion (about $6.5 million USD). And you must maintain at least IDR 50 billion in equity at all times. That’s not a suggestion. It’s a legal requirement. If you can’t prove you have that money, you don’t get a license. And it can’t come from illegal sources. OJK checks where the money comes from-hard.

You also need to submit regular reports. Not just once a year. Monthly. Quarterly. Whenever something unusual happens. Suspicious transactions? You report them to PPATK, Indonesia’s financial intelligence unit. No exceptions. No delays. OJK can freeze accounts, shut down platforms, or even press criminal charges if you mess up.

The Whitelist Got a Lot Smaller

One of the biggest changes? The asset list. Before, exchanges could list almost anything. Now, every digital asset must be reapproved by OJK. The deadline was February 2025. If your coin didn’t make the cut, it got delisted by April 2025. That cut the number of tradable assets from over 850 to under 150. That’s not just a cleanup-it’s a quality control move. OJK wants only assets with clear use cases, strong teams, and transparent governance. No more meme coins on major exchanges.

Crypto exchange staff deleting tokens as OJK inspector enforces new capital rules

Tax Rules Got a Major Overhaul

The tax treatment of crypto changed just as dramatically. Before August 1, 2025, every crypto trade was taxed like a commodity sale. You paid VAT on the transaction, plus income tax on your profit. It was messy. Double taxation. Confusing paperwork. Traders hated it.

Now, under Minister of Finance Regulation No. 50 of 2025, VAT on crypto trades is gone. Period. You only pay income tax on capital gains. That’s a huge relief. It matches how stocks and bonds are taxed. It also aligns with the new financial asset status. The old rules (PMK 68 and PMK 81) were scrapped. The new system is simpler, cleaner, and more logical. But you still need to track every trade. OJK and the tax office now share data. If you don’t report, they’ll find you.

Why Payments Are Still Banned

Despite the financial integration, one rule hasn’t changed: you still can’t use crypto to pay for goods or services. That’s banned under Bank Indonesia’s rules. Even Bitcoin, Ethereum, or stablecoins like USDT can’t be used at stores, restaurants, or online shops. The government’s fear? Loss of monetary control. Volatility. Money laundering. They’re not ready to let crypto replace rupiah.

But that’s changing. Industry groups are pushing hard for legal recognition of stablecoins for payments. Some believe the next big move will be allowing regulated stablecoins-backed by rupiah or foreign reserves-to be used as digital cash. That could happen in 2026 or 2027. But for now, it’s strictly trade-only.

People buying coffee with rupiah while crypto ATM is locked with 'No Payments' sign

Who’s Winning and Who’s Struggling

Big exchanges with deep pockets-like Tokocrypto and Pintu-are adapting. They’ve raised capital, hired compliance teams, and cleaned up their listings. They’re now licensed and operating legally. Smaller players? Many shut down. Others merged. Some moved offshore. The new rules acted like a filter: only the strongest survived.

Investors are better protected now. Platforms are more secure. There’s less risk of fraud. But access is more limited. You can’t trade obscure tokens anymore. And if you’re a foreign investor, the rules are clear but complex. You need local partners. You need to understand the licensing process. It’s not impossible-but it’s not easy either.

What’s Next?

The dust is settling. The July 2025 compliance deadline passed. Most businesses are now licensed. But questions remain. How will OJK handle new innovations? What happens if a major exchange fails? Will they allow crypto lending or staking? Will they ever lift the payment ban?

For now, Indonesia has one of the most structured crypto frameworks in Southeast Asia. It’s not perfect. But it’s deliberate. It’s not about stopping crypto. It’s about bringing it under the same rules as the rest of finance. And that’s a big deal.

Is cryptocurrency legal in Indonesia?

Yes, but only for trading and investment. You can legally buy, sell, and hold cryptocurrency through OJK-licensed platforms. However, using crypto to pay for goods or services is still illegal under Bank Indonesia regulations.

Who regulates crypto in Indonesia now?

The Financial Services Authority (OJK) regulates cryptocurrency as a digital financial asset since January 10, 2025. This replaced the previous oversight by BAPPEBTI, which treated crypto as a commodity.

Do I need to pay tax on crypto trades in Indonesia?

Yes, but only income tax on capital gains. Value Added Tax (VAT) on crypto trades was eliminated as of August 1, 2025, under Minister of Finance Regulation No. 50 of 2025. You must report all trades and profits to the tax authority.

Can I trade any cryptocurrency on Indonesian exchanges?

No. Only digital assets approved by OJK can be traded. As of April 2025, the number of tradable assets was reduced from over 850 to fewer than 150. Exchanges must delist any coin not reapproved by February 2025.

What happens if a crypto exchange doesn’t comply with OJK rules?

Non-compliance can lead to license revocation, heavy fines, asset freezes, delisting of digital assets, or even criminal charges. OJK has real-time monitoring tools and works closely with PPATK and law enforcement to enforce rules.

Are stablecoins allowed for payments in Indonesia?

No. Stablecoins are not legally permitted for payments as of November 2025. While industry groups are lobbying for their use, Bank Indonesia maintains a strict ban on using any digital asset as a payment method. Future changes are possible, but not expected before 2027.

How much capital does a crypto business need in Indonesia?

Crypto Asset Traders must have a minimum paid-up capital of IDR 100 billion (approx. $6.5 million USD) and maintain at least IDR 50 billion in equity. This capital must be verified as coming from legitimate sources and cannot be linked to money laundering or terrorism financing.

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Johnathan DeCovic

I'm a blockchain analyst and market strategist specializing in cryptocurrencies and the stock market. I research tokenomics, on-chain data, and macro drivers, and I trade across digital assets and equities. I also write practical guides on crypto exchanges and airdrops, turning complex ideas into clear insights.

7 Comments

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    asher malik

    November 25, 2025 AT 07:15
    So they finally treated crypto like real finance instead of a wild west bazaar. Honestly? Long overdue. I've seen too many people lose everything because some guy on Telegram pushed a coin with no whitepaper. Now at least there's structure.
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    Julissa Patino

    November 25, 2025 AT 22:19
    OJK is just another bureaucratic monster trying to control innovation. They think they can stop crypto by making it expensive? Lol. The real players will just move to Dubai or Singapore. This is just theater.
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    Omkar Rane

    November 27, 2025 AT 19:17
    As someone from India, I see parallels here. We had the same chaos with crypto exchanges listing random tokens. The shift to financial asset status makes sense. But I worry about small investors who relied on meme coins for quick gains. This isn't just regulation-it's cultural change. People need education, not just restrictions.
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    Daryl Chew

    November 28, 2025 AT 11:19
    They're using OJK to track us. Don't you see it? The data sharing with tax offices? That's not compliance-it's surveillance. Next they'll be scanning wallet addresses with AI. This is the first step toward digital serfdom. They want to own your money.
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    Tyler Boyle

    November 28, 2025 AT 22:01
    The capital requirements are actually smart. You need serious infrastructure to handle AML, KYC, real-time monitoring, and cross-border reporting. Most of these exchanges were just front-end interfaces with no backend compliance. The $6.5M minimum isn't arbitrary-it's the cost of being a regulated entity. If you're not ready to invest in compliance, you shouldn't be in this space. Period.
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    Jane A

    November 30, 2025 AT 01:12
    They got rid of VAT? Finally someone with sense. The old system was a joke. You pay tax on tax? That's not finance, that's robbery. Now at least it's like stocks. But don't get cozy-this is still a trap. They'll add fees back in five years.
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    jocelyn cortez

    November 30, 2025 AT 23:05
    I'm glad the list got smaller. I used to scroll through 800 coins and feel overwhelmed. Now I can actually research what's left. It's less exciting but way safer. I've lost money before. I don't want to do it again.

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