theIndonesian – The Financial Services Authority (OJK) recorded an increase in crypto digital asset transaction activity, the surge even reached 700 times. Data accumulated until March crypto transactions reached IDR 158.84 trillion.
“The total accumulation [transaction value of crypto assets] throughout 2024, until March was IDR158.84 trillion,” said Member of the Financial Services Authority (OJK DK) Board of Commissioners Hasan Fawzi in his presentation, Monday (13/5).
The transaction value only in March 2024 was recorded to have increased 726% compared to last year to Rp103.58 trillion. This number is better than February, IDR 33.69 trillion.
“The transaction value of crypto assets was recorded at IDR 103.58 trillion (March 2024), a significant increase compared to February 2024, at IDR 33.69 trillion,” he explained.
The number of investors, Hasan continued, has also increased. As of March the number reached 19.75 million. Compared to the previous month, 19.18 million.
“In connection with the development of crypto asset activities in Indonesia, it can be conveyed that the number of investors and transactions continues to show an increase,” said Hasan.
In January, OJK noted that the number of transactions in the crypto industry reached IDR 17.09 trillion as of November 2023 with total investors reaching 18.25 million people.
Towards the end of last year, there was a reversal of direction, from the downward trend that occurred in the previous period, “since the momentum of the end of the Covid-19 pandemic,” said Hasan, who is the Executive Head of the Financial Sector Technology Innovation Supervisor, Digital Financial Assets and Crypto Assets of OJK.
Indodax Chief Executive Officer (CEO) Oscar Darmawan added that the domestic crypto industry will follow the global movement, especially on Bitcoin, with two catalysts for the planned launch of the Bitcoin Spot ETF and soon the world will enter the halving period.
TokoCrypto VP Corporate Communication Rieka Handayani previously emphasized that the crypto industry in Indonesia has received support from the regulatory side – including the start of the transition of supervisory and operational roles from the Commodity Futures Trading Supervisory Agency (Bappebti) to OJK, also supported by the high interest of the easy generation in the industry.
The Indonesian
