Indonesian Crypto Industry Enters New Phase with Strengthened Regulations
The Indonesian blockchain and crypto asset industry is entering a new phase as regulatory frameworks strengthen and the use of blockchain technology expands into various sectors. The tokenization of real-world assets (RWA), intellectual property, and digital infrastructure development are key areas of growth.
According to INDODAX CEO William Sutanto, the transition of crypto asset supervision from the Financial Services Authority (OJK) has gone smoothly due to a soft landing approach. He emphasized that the next phase should focus on strengthening the ecosystem through wider integration with financial services institutions and regulations providing room for innovation.
William also noted that the regulatory framework must continue to balance innovation, access to a wider market, and consumer protection. As the crypto industry grows rapidly, it's essential to accommodate innovation while prioritizing consumer protection.