Crypto Asset Transactions Projected to Surpass IDR 1,000 Trillion if Four-Year Cycle Repeats

The Head of the Commodity Futures Trading Regulatory Agency (Bappebti), Tirta Karma Senjaya, has projected that cryptocurrency transactions in Indonesia could exceed IDR 1,000 trillion if the four-year cycle repeats this year.

In 2021, cryptocurrency transactions reached an all-time high of IDR 859.45 trillion before declining to IDR 650.61 trillion last year.

"If Bitcoin’s four-year cycle plays out again in 2025, we may see record-breaking crypto transactions, potentially surpassing IDR 1,000 trillion," Tirta stated during the Crypto Literacy Month event in Jakarta on Tuesday (Feb 4, 2025).

Tirta highlighted that 2025 would be a pivotal year for the crypto industry in Indonesia, particularly with the transition of regulatory oversight from Bappebti to the Financial Services Authority (OJK).

To ensure a more transparent, efficient, and economically beneficial crypto ecosystem, several challenges must be addressed. Among the primary concerns are the presence of illegal entities and the rising threats of cybercrime, which require stricter monitoring.

Collaboration between OJK, Bappebti, and the Indonesian Blockchain and Crypto Asset Traders Association (Aspakrindo-ABI) is crucial in maintaining regulatory compliance within the industry. Additionally, industry players must adhere to existing regulations to foster a well-regulated crypto trading environment.

"We must continue building this industry together to ensure sustainable growth," Tirta added.

Previously, cryptocurrency trading regulations were governed by several Bappebti regulations, including Regulation No. 9 of 2024, No. 13 of 2022, and No. 8 of 2021, which provided guidelines for crypto trading in the CFX futures exchange.

Under OJK’s supervision, cryptocurrency trading is now regulated through OJK Regulation No. 27 of 2024, which not only accommodates Bappebti’s existing provisions but also aligns with OJK’s regulatory standards to enhance governance in Indonesia’s crypto asset trading sector.

Currently, Indonesia’s crypto trading mechanism involves multiple stakeholders, including Self-Regulatory Organizations (SROs), which consist of exchanges, clearing institutions, and fund depositories.

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