DIGIVESTASI - The Financial Services Authority (OJK) is preparing to transfer the authority needed to regulate and supervise digital financial assets, including crypto assets. This is regulated in the Draft Government Regulation (DPR) related to the transfer of regulatory and supervisory functions for digital financial assets, including crypto assets and derivative financial instruments.

According to Hasan Fawzi, Director General of the Financial Sector Supervisory Authority for Technological Innovation, Digital Financial Assets and Crypto Assets, this transition has entered the harmonization stage conducted by the Ministry of Law and Human Rights. Furthermore, the authority will coordinate with Bank Indonesia (BI) and Bappebti. 

"OJK will coordinate with Bank Indonesia and Bappebti to prepare a transition plan in the transition group," Hasan said in a press conference at the OJK Board of Commissioners Monthly Meeting in December 2023, which will be coordinated by OJK (September 1, 2023). In accordance with the provisions of the PPSK Law, the transfer of crypto assets and derivative financial instruments from Bappebti to OJK is carried out no later than 24 months after the enactment of the law. Therefore, this step must be completed early next year. 

Provisions regarding the transfer of functions will then be regulated in a Government Regulation (PP). Hasan said that his party together with the Ministry of Finance and BI conducted discussions in order to harmonize and finalize the draft regulation. 

Therefore, I hope that in the near future the RPP can be issued in the form of a PP, becoming a reference document for taking steps to prepare for the transfer of functions, regulation and supervision of digital financial assets, crypto assets, and financial derivatives. "I hope that the RPP can be issued in the form of a PP, as a reference document for taking steps to prepare for the transfer of functions, regulation and supervision of digital financial assets, crypto assets and financial derivatives, from Bappebti to OJK," he explained.