The Indonesian Financial Services Authority (Otoritas Jasa Keuangan, “OJK”) has issued Financial Services Authority Regulation No. 40 of 2024 on Information Technology-Based Collective Funding Services (“POJK 40/2024”), which came into effect on 27 December 2024. This regulation introduces comprehensive rules and oversight provisions to streamline the licensing process, enhance protection for asset holders, and strengthen supervision of digital financial asset trading providers, including cryptocurrencies. The regulation also encompasses critical responsibilities such as governance, data protection, reporting, and anti-money laundering programs.

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