Indonesia Unveils List of 29 Licensed Crypto Exchanges
Indonesia's financial regulator, the OJK, has taken a decisive step toward formalizing its cryptocurrency market by publishing a whitelist of 29 approved exchanges. This move establishes clear operational boundaries for digital asset platforms while signaling intensified oversight of the sector.
The regulatory whitelist serves as both a consumer protection tool and a compliance benchmark. Investors now have an official reference to verify licensed operators, with the OJK explicitly warning against using unlisted platforms. This framework aims to curb fraudulent activity while legitimizing Indonesia's growing crypto economy.
Notably, the regulation mandates pre-approval for exchanges offering derivative products—a requirement that may reshape competitive dynamics. The published list includes platform names and corporate entities, creating unprecedented transparency in a market that saw $4.9 billion in crypto transactions during Q1 2024 alone.
