Indonesia Targets Stablecoin Regulations by Early 2027, OJK Says
Stablecoins are among three products emerging from OJK's regulatory sandbox, alongside tokenization and real-world assets (RWA)
TEMPO.CO, Jakarta - Indonesia's Financial Services Authority (OJK) sees stablecoins as having significant potential to serve as programmable money, facilitating digital transactions within the country and across borders as financial technology continues to evolve.Adi Budiarso, OJK's Executive Head of Financial Sector Technology Innovation Supervision, Digital Financial Assets, and Crypto Assets, said programmable money in the era of blockchain and decentralized finance (DeFi) could take two main forms: central bank digital currencies (CBDCs) and stablecoins.
“Stablecoins are what we are starting to see develop in the market, such as USDT. USDT is a stablecoin. Its function is, of course, to support transactions in the digital era,” Adi said in an official statement cited by Antara on Friday, October 9, 2026.
Stablecoins are among three products emerging from OJK's regulatory sandbox, alongside tokenization and real-world assets (RWA). Adi said stablecoins could play an increasingly important role in facilitating domestic and cross-border digital transactions.OJK Targets Stablecoin Rules by Early 2027OJK is preparing regulations governing stablecoins, which Adi expects to be completed by early 2027.
“By around January 2027, we will have the direction. Later, we will regulate reserves, governance, consumer protection, redemption, while maintaining the sovereignty of the rupiah and financial stability,” he said.To address the opportunities and risks associated with digital financial assets, OJK will continue coordinating with Bank Indonesia (BI).
The two authorities have agreed to discuss developments in digital financial assets and measures to mitigate potential risks.Adi said the Financial Stability Board (FSB) had repeatedly warned about the need to monitor developments in crypto assets and other digital assets.OJK Requires Crypto and DeFi Businesses to Be LicensedAdi described Indonesia as a progressive jurisdiction in digital asset regulation.
He said the Financial Sector Development and Strengthening Law, known as the PPSK Law, had helped establish a regulatory framework for crypto assets comparable to those in countries such as the United Kingdom and Japan.OJK is also finalizing regulations through its regulatory sandbox mechanism to strengthen consumer protection and improve industry governance.The authority requires businesses operating in Indonesia's crypto and DeFi ecosystems to obtain the necessary licenses from OJK.
“In principle, we will provide a regulatory framework for the ecosystem or business processes so that the industry operates under clear rules. Anyone who wants to participate here must be licensed by OJK. That is clear.
Secondly, if they are not licensed by OJK, they are illegal. They will face sanctions,” Adi said.Global Stablecoin Market Reaches $320 BillionGlobally, stablecoins had a combined market capitalization of approximately US$320 billion at the end of May 2026, according to the report.
Global stablecoin transaction volumes exceeded an estimated US$28 trillion throughout 2025, with activity dominated by US dollar-pegged stablecoins and the broader digital asset ecosystem.Read: Nusantara to Host Borneo Economic Forum 2027Click here to get the latest news updates from Tempo on Google News
