OJK Licensing: What Crypto Businesses Need to Know About Indonesia's Crypto Rules

When a crypto company operates in Indonesia, it must get licensed by the OJK, Indonesia's Financial Services Authority that regulates all financial activities including digital assets. Also known as Otoritas Jasa Keuangan, it's the only body that can legally approve crypto exchanges, wallet providers, and trading platforms in the country. Without this license, you're not just breaking rules—you're operating illegally. And in 2025, OJK has cracked down hard: unlicensed platforms are blocked, bank accounts are frozen, and founders face fines or even jail time.

OJK licensing isn't just about paperwork. It demands real compliance: full KYC, Know Your Customer checks that verify user identity and track transaction history, strict AML, Anti-Money Laundering controls to flag suspicious crypto flows, and transparent reporting to regulators. Unlike some countries where rules are loose, Indonesia treats crypto like banking—no exceptions. Even DeFi platforms that claim to be "decentralized" must register if they serve Indonesian users. The OJK doesn't care if your smart contract runs on Ethereum; if Indonesians are using it, you're under their watch.

What does this mean for you? If you're a trader, your favorite exchange might be gone tomorrow if it lost its OJK license. If you're building a crypto product, you need legal counsel before launching. And if you're wondering why some platforms disappeared from Indonesia overnight—it's not a glitch. It's OJK doing its job. The posts below dig into how this plays out: from exchange shutdowns and user account freezes to how traders are adapting with peer-to-peer workarounds and offshore wallets. You'll find real cases, not theory. No fluff. Just what’s happening on the ground in Jakarta, Bali, and beyond.