Indonesia - OJK and Bank Indonesia perimeter

Indonesia financial permissions and regulator dossier

Indonesia splits financial-services supervision through OJK and payment-system and foreign-exchange functions through Bank Indonesia. Crypto and digital-financial-asset supervision moved from Bappebti on 10 January 2025. This dossier maps the current perimeter.

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Route facts

Jurisdiction facts

Regulator map

OJK for banks, capital markets, insurance, pensions, finance companies, online lending and digital financial assets; BI for payment service providers, infrastructure, money changing and allocated money-market or FX derivatives.

Crypto transition

Bappebti transferred digital financial assets including crypto assets to OJK and allocated financial derivatives in money and FX markets to BI on 10 January 2025.

Permission coverage

Banking, payments, e-money, FX, securities, funds, insurance, pensions, finance, P2P, crowdfunding, crypto, custody and administration.

Capital basis

Entity- and category-specific under banking, payment-system, capital-market, insurance, pension, financing and OJK digital-asset regulations.

Territorial reach

OJK or BI status is domestic and activity-specific. It creates no ASEAN passport and does not authorise solicitation or establishment in another country.

Review date

Regulatory summary reviewed as of 11 July 2026.

Read the perimeter first

The 2025 handover changed the crypto regulator, not the need for a precise licence

OJK supervises commercial and rural banks, securities companies, investment managers, capital-market infrastructure, insurance and pension funds, finance and venture-capital companies, microfinance, pawn businesses, peer-to-peer lending, securities crowdfunding and the digital-financial-asset and crypto ecosystem. Bank Indonesia licenses payment service providers and payment-system infrastructure providers, supervises non-bank money changers, and controls the payment and allocated money-market or foreign-exchange derivative perimeter. On 10 January 2025, Bappebti formally transferred digital financial assets including crypto assets to OJK, while relevant financial derivatives in money and foreign-exchange markets moved to BI. Existing Bappebti history must therefore be read through current OJK status. OJK Regulation 27/2024, as amended by Regulation 23/2025 and publicised in March 2026, governs the current trading framework. A company registration, sandbox result or prior Bappebti label is not enough: the entity must appear in the current OJK or BI licensing record for its exact activity.

Permission families

Indonesia licence, authorisation and registration routes

Family	Official instrument and authority	Activities and exclusions	Entry, capital and reach
Family Commercial, rural and Sharia banking	Official instrument and authority OJK bank business licence under the Banking Law, Sharia Banking Law and OJK regulations; BI retains monetary, macroprudential and payment-system functions	Activities and exclusions Accept deposits, extend credit and conduct only authorised conventional or Sharia banking activities. A finance company, PJP, crypto trader or cooperative status does not authorise bank deposits.	Entry, capital and reach OJK assesses legal form, controlling shareholders, capital, governance, risk, management, systems and business plan. Category-specific capital, liquidity, recovery and deposit-insurance rules apply.
Family Payment service providers and e-money	Official instrument and authority Bank Indonesia PJP licence under PBI 23/6/PBI/2021 for account-information, payment-initiation, acquiring, funds-source administration including e-money, and remittance services	Activities and exclusions Provide only the service clusters recorded in the PJP licence. E-money, wallets, acquiring, gateways and transfers are not interchangeable, and a technical provider without control of funds has a different perimeter.	Entry, capital and reach A non-bank applicant must be an Indonesian legal entity and meet ownership, capital, governance, risk, safeguarding, security, consumer and AML/CFT requirements for its category.
Family Payment infrastructure	Official instrument and authority Bank Indonesia approval or designation as Payment System Infrastructure Provider under PBI 23/7/PBI/2021 and related payment-system rules	Activities and exclusions Operate switching, clearing, settlement or other payment infrastructure only as approved. A PJP serving end users is not automatically a PIP.	Entry, capital and reach BI applies systemic-impact classification, ownership, financial resources, governance, resilience, access, risk, settlement and reporting requirements according to the infrastructure.
Family Foreign exchange, remittance and money-market derivatives	Official instrument and authority BI non-bank money changer licence, PJP remittance scope and BI permission for allocated money-market and foreign-exchange derivative activities	Activities and exclusions Conduct physical FX, remittance or qualifying PUVA derivative activity only under the specific BI route. Crypto derivatives and capital-market derivatives require the post-handover authority allocation.	Entry, capital and reach The applicant must evidence Indonesian establishment, owners, capital, AML/CFT, transaction monitoring, systems, consumer controls and reporting. Each product's underlying determines BI or OJK competence.
Family Securities companies, advice, custody and venues	Official instrument and authority OJK business licence or approval for securities underwriters, broker-dealers, investment advisers, custodians, exchanges, clearing and depository institutions	Activities and exclusions Underwrite, broker, advise, custody or operate a venue only within the recorded capital-market status. A technology or crowdfunding registration is not a securities-company licence.	Entry, capital and reach OJK applies category-specific ownership, capital, licensed representatives, governance, client-assets, conduct, market surveillance, technology and reporting requirements.
Family Investment management and collective funds	Official instrument and authority OJK investment-manager licence and product approval or registration for mutual funds, collective investment contracts and other recognised schemes	Activities and exclusions Manage portfolios or collective assets and offer scheme interests only after the manager and product steps are complete. A fund approval is not the manager's operating licence.	Entry, capital and reach Capital, licensed personnel, custodian bank, valuation, delegation, disclosure, investment limits, Sharia controls where relevant and periodic reporting depend on the scheme.
Family Insurance, reinsurance and intermediation	Official instrument and authority OJK business licence for insurance, reinsurance, Sharia insurance and supporting insurance businesses, including brokers and other intermediaries	Activities and exclusions Underwrite only approved classes or intermediate and support insurance in the recorded capacity. An intermediary cannot assume underwriting risk.	Entry, capital and reach OJK tests capital or equity, controllers, actuarial and key functions, governance, reinsurance, policyholder protection, products, reporting and fit-and-proper status.
Family Consumer finance, leasing, factoring and other financing	Official instrument and authority OJK licence for finance companies, venture-capital companies, microfinance, pawn and other financial-services institutions under the applicable POJK	Activities and exclusions Provide only the approved financing activities, which can include investment, working-capital, multipurpose finance, leasing or factoring. Deposit taking remains outside the route.	Entry, capital and reach Legal form, equity, controllers, responsible management, funding, risk, consumer conduct, collections, AML, outsourcing and reporting are category-specific.
Family Online lending and securities crowdfunding	Official instrument and authority OJK licence for technology-based joint funding or P2P lending; OJK platform licence or registration for securities crowdfunding under capital-market rules	Activities and exclusions P2P providers intermediate loans; securities crowdfunding platforms facilitate approved securities offers. Neither status authorises deposits or unrestricted investment dealing.	Entry, capital and reach OJK assesses capital or equity, owners, platform governance, lender and borrower due diligence, escrow or custodian arrangements, disclosures, cyber security, complaints and data reporting.
Family Digital financial assets and crypto assets	Official instrument and authority OJK licence for the crypto trading ecosystem under POJK 27/2024 as amended by POJK 23/2025, including exchanges, clearing, custody and licensed traders	Activities and exclusions Operate only the recorded exchange, clearing, depository or trader function. A pre-2025 Bappebti registration or approval must be reconciled to current OJK status.	Entry, capital and reach OJK reviews ownership, management, capital, client assets, market integrity, technology, cyber security, AML and reporting. The live OJK register controls, and BI remains competent for allocated money and FX derivatives.
Family Trust, company and fiduciary administration	Official instrument and authority Custodian-bank, trustee, investment-manager or other OJK status where regulated assets or collective schemes are involved; ordinary company administration uses general corporate law	Activities and exclusions Hold regulated securities or scheme assets only under the applicable OJK status. Incorporation, bookkeeping or nominee services do not create a financial licence.	Entry, capital and reach Map discretion, control of assets, beneficial ownership and AML obligations. Additional professional and company-registry requirements cannot substitute for OJK or BI permission.
Family Pension funds and retirement services	Official instrument and authority OJK approval and supervision of employer pension funds, financial-institution pension funds and related managers or service providers under pension legislation	Activities and exclusions Operate or administer only the approved pension structure. A bank, insurer or investment-manager licence does not automatically establish a pension fund.	Entry, capital and reach Founding documents, governance, funding, actuarial, investment, custodian, member disclosure, audit and reporting requirements apply by pension type.
Family Gambling and other special activities	Official instrument and authority No gambling permission is contained in OJK or BI financial licence schedules; gaming remains a separate Indonesian legal and enforcement issue	Activities and exclusions A payment, PJP, bank, securities, crowdfunding or crypto licence never authorises betting or games of chance. Processing a payment does not legalise the underlying activity.	Entry, capital and reach Obtain current Indonesian criminal, communications and local-law analysis before any chance-based product. Do not describe an OJK or BI status as a gaming licence.

Entry conditions

OJK and BI files must describe one operating model from different angles

An Indonesian application starts by identifying which legal entity touches customer funds, issues payment value, extends financing, solicits investment, manages assets, underwrites risk or operates crypto infrastructure. OJK and BI can both be relevant to one group, but each grants its own status. The applicant must use the permitted Indonesian legal form, maintain the required registered office and operational presence, disclose controlling shareholders and ultimate owners, and appoint directors, commissioners and certified or licensed officers appropriate to the activity. The file links products and flows of funds to forecasts, category-specific capital or equity, governance, risk, AML/CFT, safeguarding or custodian arrangements, technology, data localisation where required, outsourcing, complaints, continuity and wind-down. OJK's integrated SPRINT and sector channels and BI's licensing systems use current forms and fee rules. The crypto transition requires additional diligence on legacy Bappebti documents, the new OJK ecosystem category and any BI derivative allocation. No application, sandbox status or transitional filing promises a final licence or launch date.

Regulator-facing process

An Indonesian OJK and BI mandate, stage by stage

The sequence must preserve the 2025 authority handover and prevent a legacy label from being treated as current operating scope.

Stage 01 - Authority map

Separate OJK, BI and legacy Bappebti issues

Classify deposits, e-money, payment infrastructure, FX, financing, securities, funds, insurance, pensions, P2P, crowdfunding and every digital-asset function.

For crypto and derivatives, document the 10 January 2025 handover and identify whether current competence lies with OJK or BI.

Stage 02 - Applicant

Build the eligible Indonesian entity and people

Evidence controllers, commissioners, directors, licensed officers, capital, governance, AML, client assets, technology, outsourcing and local operations for the chosen route.

Reconcile corporate objects and OSS records with the regulated activity, while recognising that general business registration is not the financial licence.

Stage 03 - Licensing

Submit through the current OJK or BI channel

Use the sector's current POJK or PBI, application checklist and electronic system, and keep ownership, financial projections, systems and policies consistent.

Legacy Bappebti evidence can support history but not replace current OJK status. Only the formal licence and register entry evidence permission.

Stage 04 - Launch

Activate the approved function and reporting

Confirm licensed representatives, client-money or custodian arrangements, system readiness, reporting accounts, complaints, agents and counterparties before serving users.

New products, ownership changes, mergers, outsourcing and cross-border activity require a fresh OJK and BI notification or approval analysis.

After entry

The licence remains tied to continuous OJK or BI compliance

Indonesian regulated firms maintain their required capital or equity, governance, risk, AML/CFT, sanctions controls, customer due diligence, safeguarding or custody, market conduct, complaints, cyber security, outsourcing oversight, incident response, audit and regulatory reports. BI payment and FX firms follow PBI reporting and payment-system standards, while OJK banks, securities companies, insurers, pension funds, finance companies, P2P providers and crypto firms follow separate POJK calendars. Crypto operators must reconcile legacy trading history with OJK's current market-integrity, client-asset and technology obligations. A direct or indirect change of control, acquisitions, mergers, changes in directors or commissioners, new business activities and key outsourcing can require prior approval or notification. Acquiring shares leaves the business licence with the Indonesian company and imports its full supervisory history. Diligence must verify the current OJK or BI directory, exact category, transition documents, capital, customer assets, complaints, sanctions, technology and contracts. Indonesian status creates no regional passport and does not guarantee banking, settlement or counterparty continuity.

Verify it yourself

Primary official sources

OJK financial-sector and licensing directories
The official OJK portal separates banking, capital markets, insurance and pensions, financing institutions, P2P lending and digital-financial-asset and crypto licensing - ojk.go.id.
OJK, BI and Bappebti joint handover release
The official release confirms the transfer of digital financial assets including crypto to OJK and allocated money and FX derivatives to BI on 10 January 2025 - ojk.go.id.
OJK digital asset regulations
Official OJK material identifies POJK 27/2024 and its POJK 23/2025 amendment for digital financial asset and crypto trading, publicised in March 2026 - ojk.go.id.
Bank Indonesia PJP Regulation 23/6/PBI/2021
The official English regulation defines Payment Service Providers, licensing clusters, applicant requirements and ongoing supervision - bi.go.id.
Bank Indonesia payment and AML/CFT guidance
Official payment-system pages distinguish PJP, PIP, e-wallet, switching and non-bank money-changing controls and their AML duties - bi.go.id.

FAQ

Indonesia regulator dossier questions

01 Who regulates crypto trading in Indonesia now?

OJK regulates digital financial assets including crypto assets after the formal handover on 10 January 2025. BI received allocated financial derivatives with money-market and FX underlyings. Check the current product and register.

02 Is an old Bappebti approval enough after the transfer?

No. It is part of regulatory history, but current operating status must be reconciled to OJK's post-transfer category and official register under the current regulations.

03 Does a PJP licence permit deposit taking?

No. It permits the recorded payment-service clusters under BI rules. Deposit taking remains a banking activity supervised by OJK.

04 Are P2P lending and securities crowdfunding the same route?

No. P2P or joint-funding providers intermediate loans under their OJK regime. Securities crowdfunding facilitates capital-market offerings and uses separate platform, issuer and investor rules.

05 Does an OJK licence cover other ASEAN markets?

No. Indonesian permissions are domestic and activity-specific. Serving another market requires the host country's legal basis and any local permission.

Reviewed by the SKY7 advisory team. Last reviewed: 11 July 2026. Regulatory statements are made as of July 2026. This page is general information only, not legal, regulatory, tax, investment or financial advice. The post-Bappebti allocation and OJK crypto regulations are moving and must be checked against the current official register. Verify the current legislation, official register, application forms, capital method, fee schedule and transition notices before relying on any Indonesian permission or market-access statement.

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