OJK Reports Decline in Crypto Transactions

April 25, 2025 | 07:29 pm

TEMPO.CO, Jakarta - The Financial Services Authority (OJK) has reported a decrease in cryptocurrency transactions, aligning with a global trend influenced by the United States' tariff policies. Hasan Fawzi, the Executive Head of Supervision of the Financial Technology Innovation Sector, Digital Financial Assets, and Crypto Assets at OJK, noted that the fear and greed index for crypto trading has shifted towards fear, suggesting that investors are becoming hesitant to make transactions.

"Even though overall, especially the largest crypto asset, Bitcoin, did not experience a drastic decline like other financial assets that occurred yesterday due to policy fluctuations," Hasan remarked when approached at the OJK Tower Radius Prawiro in Jakarta on Thursday, April 24, 2025. Despite this contraction in transaction volume, Hasan asserted that crypto assets are still perceived as a relatively secure investment avenue when compared to other financial instruments.

While crypto transactions have decreased, Hasan expressed optimism that the number of crypto asset users will continue to grow. He pointed out that there was a significant increase in the number of crypto asset users in February 2025 compared to January 2025, indicating sustained public interest in crypto investments.

Hasan remains optimistic about the continued upward trend of crypto adoption this year. "We still anticipate an increase in adoption, as demonstrated by the level of onboarding or the influx of new consumer segments or investors, which we expect will continue significantly this year. That is our hope," he said.

During the OJK's Monthly Board of Commissioners Press Conference in March 2025, the OJK recorded the value of crypto asset transactions in February 2025 at Rp32.78 trillion. This represents a decrease from the Rp44.07 trillion in transactions recorded in January 2025. Conversely, the number of crypto asset users in Indonesia reached 13.31 million by the end of February 2025, an increase from the 12.92 million users in January 2025.

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