Financial firms in Indonesia are not allowed to offer and facilitate sales of crypto assets in the country, the Financial Services Authority (OJK) has warned. In a statement posted on Instagram, the country’s financial regulator said it has strictly prohibited financial service institutions from using, marketing, and/or facilitating crypto asset trading. The warning comes as crypto trading in Indonesia is booming, with a growing number of people buying into the digital assets. Last year, crypto-assets transactions reached IDR859tr (USD60m), up from just IDR60tr a year earlier. Indonesia only allows sales of crypto assets in the commodities exchange. The OJK’s warning followed similar concerns by the central banks of Thailand and Singapore.
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