Bappebti Crypto Oversight & Licensing: What You Need to Know

• By JayKay Sun
• 24 Mar, 2025
• 20 Comments

TL;DR

• Bappebti regulated crypto as a commodity until Jan102025.
• Licensing required crypto assets to be approved and registered with Bappebti.
• Key regulations: Regulation No.8/2021, amended by No.13/2022.
• On Jan102025 oversight shifted to OJK under Regulation No.27/2024.
• Existing licenses were carried over, but new financial‑service rules now apply.

What is Bappebti the Indonesian Commodity Futures Trading Supervisory Body that oversaw crypto assets as commodities?

If you’re hunting for information about Bappebti crypto licensing, you’ve come to the right place. Bappebti, short for Badan Pengawas Perdagangan Berjangka Komoditi, acted as Indonesia’s main regulator for crypto assets from the first crypto rules in 2019 up until the hand‑over ceremony on Jan102025. During that time, the agency treated digital tokens the same way it treats gold, oil or agricultural futures - as commodities that could be traded on a physical exchange.

Why did the government choose a commodity framework? Because early on, crypto was seen primarily as a trading instrument rather than a financial security. Bappebti’s job was to protect investors, prevent market abuse, and make sure every token had a clear approval pathway before appearing on an exchange.

How did the licensing process the step‑by‑step approval that crypto projects needed to follow under Bappebti’s regime work?

1. Project submitter files a detailed application to Bappebti, including white‑paper, tokenomics, and KYC/AML procedures.
2. Bappebti’s technical team reviews the asset against the criteria in Regulation No.8/2021.
3. If the token passes the commodity‑fit test, Bappebti issues a registration number and adds the asset to the official list of “approved crypto assets.”
4. The approved asset can then be listed on a physical crypto market that Bappebti has licensed, such as the Jakarta Crypto Exchange.
5. Compliance checks are performed quarterly; any breach can lead to suspension or revocation of the license.

This approach created a clear, centralized list of tradable tokens. By mid‑2023, the list had grown to around 501 assets, including Bitcoin, Ethereum and Solana.

Key regulations that shaped Bappebti’s oversight

Three pieces of legislation formed the backbone of Bappebti’s crypto regime:

• Regulation No.8/2021 Guidelines for Conducting Crypto Asset Physical Market Trading on Commodity Exchanges - set the basic approval criteria.
• Regulation No.13/2022 Amendment that expanded the list of permissible tokens and tightened AML requirements.
• Regulation No.4/2023 Further clarification on which crypto assets could be traded on physical markets.

These rules gave Bappebti a solid legal foundation to screen tokens, monitor exchanges, and enforce market conduct.

The big shift: from Bappebti to OJK Indonesia’s Financial Services Authority, now responsible for crypto oversight

On Jan102025, a formal hand‑over (BAST) transferred crypto supervision from Bappebti to OJK. The move was required by Law No.4 of 2023 on Financial Sector Development and Strengthening (the P2SK Law). The new framework re‑classifies crypto assets as “digital financial assets” instead of commodities.

OJK introduced Regulation No.27/2024 Implementation of Trading in Digital Financial Assets, covering offering, trading, settlement and infrastructure. This regulation aligns crypto with traditional banking and securities rules, adds tighter consumer protection, and allows OJK to work together with Bank Indonesia on payment‑system aspects.

Comparing Bappebti and OJK oversight

The table shows that OJK brings a broader, financial‑services perspective while preserving most of Bappebti’s existing approvals. Existing crypto exchanges didn’t have to shut down; they simply had to apply for the new OJK‑type license.

Practical steps for crypto service providers after the hand‑over

1. Review your current Bappebti registration number. Keep the document handy - OJK will ask for it during the transition audit.
2. Map your activities to the categories defined in Regulation No.27/2024: are you a trader, a custodian, a token‑issuer, or a settlement service?
3. Prepare a “fit‑and‑proper” dossier that includes board qualifications, AML policies, and financial statements. OJK’s capital‑adequacy threshold is IDR500billion for crypto‑exchange licenses.
4. Submit an application through OJK’s online portal. The process now takes about 45days, compared with 30days under Bappebti, because of the added financial‑risk assessment.
5. Update your AML/KYC tooling to meet the same standards as Indonesian banks. Expect regular on‑site inspections by both OJK and Bank Indonesia.
6. Communicate the change to users. A short banner on your website explaining “We are now regulated by OJK” builds trust and satisfies consumer‑protection clauses.

Following these steps will keep your operation compliant and ready to tap into the next wave of institutional crypto interest that OJK’s framework is designed to attract.

What does the future look like for Indonesian crypto under OJK?

Analysts say the shift is more than paperwork. By placing crypto under the same regulator as banks and securities firms, Indonesia can issue clearer guidance on emerging trends like DeFi, NFTs, and tokenized assets. OJK’s “Digital Financial Innovation” (DFI) roadmap aims to pilot sandbox projects that let fintechs test new products with limited regulatory friction.

At the same time, the dual oversight with Bank Indonesia means that payment‑related features-like stablecoin settlements-will be tightly supervised, reducing the risk of runaway stablecoin use without proper reserves.

Overall, the change should make Indonesia a more attractive destination for foreign crypto platforms looking for a stable, well‑regulated market.