Bittime Supports OJK’s Efforts to Strengthen Oversight of Unlicensed Crypto Platforms

Bittime supports the Financial Services Authority (OJK)’s efforts to strengthen oversight of Indonesia’s crypto asset industry as part of its commitment to enhancing consumer protection and building a healthier digital asset ecosystem.

OJK’s commitment is reflected in its strengthened supervision of the industry, including the shutdown of 228 illegal Digital Financial Asset Traders (PAKD) as of May 2026, in collaboration with the Illegal Financial Activities Eradication Task Force (Satgas PASTI) and relevant ministries and government institutions. The measure was highlighted by OJK during its Press Conference on the Assessment of the Financial Services Sector and OJK Policies following the July 2026 Monthly Board of Commissioners Meeting (RDKB) on Tuesday (August 4, 2026).

Bittime views stronger regulatory oversight as an important factor in fostering public confidence in Indonesia’s crypto asset industry. This is in line with OJK data showing that the number of digital financial asset consumer accounts reached 22.69 million in June 2026, representing a 1.32% increase from the previous month. Meanwhile, crypto asset transaction value reached Rp28.58 trillion, up 24.20% from May 2026.

Bittime Supports Stronger Consumer Protection

Bittime Operations Director, Ryan Lymn, said OJK’s efforts are an important step toward strengthening consumer protection while creating a healthier and more trusted digital asset ecosystem.

“Bittime fully supports OJK’s efforts to strengthen oversight of the crypto asset industry as part of enhancing consumer protection and building greater confidence in Indonesia’s digital asset ecosystem. Clear regulations and consistent supervision will provide greater certainty for the public to invest through platforms that comply with applicable regulations,” said Ryan.

Ryan added that the increase in both the number of investors and transaction value demonstrates that public interest in digital assets remains strong. He emphasized that education, consumer protection, and regulatory certainty need to develop hand in hand to ensure the industry grows in a healthy and sustainable manner.

This trend is also reflected in Bittime’s user trading activity throughout July 2026. Based on Bittime’s internal data, Bitcoin (BTC) and Ethereum (ETH) remained the most actively traded crypto assets, followed by Solana (SOL). At the same time, interest in alternative assets continued to grow, as reflected in strong trading activity for PEPE and tokenized assets such as SPCXX, XAUT (Tether Gold), and NVDAX, highlighting the increasingly diverse investment preferences of users.

Bittime’s Commitment to Supporting a Regulated Ecosystem

Amid sustained interest in digital asset investment and ongoing global market dynamics, Bittime, as a registered and OJK-supervised Digital Financial Asset Trader (PAKD), continues to expand access for Indonesians to a broad range of global digital assets.

Positioned as “Indonesia’s Gateway to Global Assets,” Bittime provides access to a variety of digital assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, USDT, and Tokenized US Stocks such as NVDAX, AAPLX, GOOGLX, and METAX.

Ryan explained that in July 2026, Bittime also became the first Digital Financial Asset Trader to obtain a license to offer digital financial asset derivatives trading through a licensing process conducted fully under OJK’s regulatory oversight, with the license issued by PT Central Finansial X (CFX).

Since the launch of the service, user interest in digital asset derivatives trading has continued to show a positive trend. Bittime’s internal data recorded Bitcoin (BTC), PUMP, Uniswap (UNI), Ethereum (ETH), and Hyperliquid (HYPE) as the most actively traded derivative assets throughout July 2026. All transactions were conducted using USDT trading pairs.

“This achievement reflects our commitment to continuously providing services that comply with Indonesian regulations. We believe stronger industry governance will provide greater certainty for the public to invest through regulated and licensed platforms,” Ryan said.

Regulation as the Foundation for Industry Growth

Amid the continued growth of Indonesia’s digital asset industry, the global crypto market is also facing various developments. One such development is the announcement by global crypto exchange BitMart that it will cease trading activities on August 26, 2026, before fully winding down its business operations in January 2027.

According to Ryan, such developments serve as a reminder that sound governance, transparency, and regulatory compliance are essential foundations for building a sustainable digital asset industry while maintaining public trust.

“We believe Indonesia’s crypto asset industry has positive prospects, supported by increasing public adoption and a strengthening regulatory framework. Bittime will continue to support OJK’s efforts to build a secure, transparent, and consumer-oriented digital asset ecosystem, while providing Indonesians with access to a wide range of global assets through a regulated and licensed platform,” Ryan concluded.