Exclusive Crypto Indonesia 2025: OJK Rules, CFX Launch, and Stablecoin Debate

Indonesia's crypto ecosystem is undergoing rapid transformation, marked by regulatory shifts and surging adoption. Pintu, a leading local exchange, has surpassed 10 million app downloads, with its derivatives platform Pintu Futures growing 170% month-on-month. The spotlight at Coinfest Asia 2025 revealed both progress and tension—while companies push for mass adoption, industry leaders warn against over-reliance on USD-backed stablecoins and advocate for stronger rupiah integration in the digital economy.

Regulatory oversight has tightened as authority transitions from BAPPEBTI to the Financial Services Authority (OJK). Exchanges now face stringent compliance demands: executives must pass fit-and-proper tests, implement bank-grade governance, and deploy advanced tools like AI-driven monitoring systems. "The main challenge is governance," notes Alex Chandra, a tech regulation expert, highlighting the sector's growing pains as it matures.