The Financial Services Authority (OJK) has emphasized that its fee policy for the Centralized Futures Exchange (CFX) is strategically designed to support the sustainable development of digital financial sectors—particularly the cryptocurrency industry. As digital assets continue to gain traction globally, regulatory frameworks are evolving to ensure market stability, transparency, and investor protection. This initiative marks a significant step toward building a resilient and future-ready financial ecosystem in Indonesia.
Strategic Role of CFX Fee Policy
Hasan Fawzi, Executive Director of the Technology Innovation, Digital Financial Assets, and Crypto Assets Supervision Department at OJK, highlighted that 2025 efforts are focused on optimizing CFX’s role as a core trading infrastructure for digital financial assets. The fee structure isn't merely a revenue mechanism—it's a deliberate tool to shape an efficient, transparent, and secure marketplace.
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"We emphasize that cost- and fee-related policies within this ecosystem aim to create an efficient and transparent market structure that supports long-term industrial growth," said Hasan.
This strategic alignment follows OJK Regulation No. 27 of 2024 (POJK), which governs the implementation of digital financial asset trading—including cryptocurrencies—and clearly defines the operational responsibilities of exchanges like CFX. By refining these fee mechanisms, OJK ensures that market participants benefit from standardized, fair, and predictable trading conditions.
Enhancing Market Efficiency and Security
A key objective of the revised CFX framework is to improve overall market efficiency through tighter integration with regulated financial systems. OJK is working closely with CFX operators to upgrade trading platforms with high-security protocols and real-time monitoring capabilities. These enhancements ensure faster execution, reduced latency, and stronger safeguards against cyber threats.
Moreover, the push for structured regulation aims to protect consumers from risks such as market manipulation, insider trading, and opaque pricing models. With increasing public interest in crypto investments, ensuring trust in the system is paramount. The regulatory body enforces strict reporting standards and surveillance mechanisms to detect anomalies and maintain market integrity.
Hasan noted that innovation remains a top priority:
"OJK supports continuous innovation within CFX, especially in strengthening transaction reporting and monitoring systems."
This includes adopting advanced analytics, blockchain-based audit trails, and AI-driven anomaly detection tools—technologies that not only enhance compliance but also improve user experience.
Regulatory Transition and Institutional Collaboration
An important milestone in Indonesia’s digital finance evolution is the transfer of regulatory oversight for digital financial assets from Bappebti (Commodity Futures Trading Regulatory Agency under the Ministry of Trade) to OJK and Bank Indonesia (BI). This shift reflects a broader strategy to consolidate supervision under institutions better equipped to handle complex financial technologies and systemic risks.
Under this new arrangement:
- OJK now oversees digital financial assets (Aset Keuangan Digital/ AKD), including crypto assets and capital market derivatives.
- Bank Indonesia (BI) regulates financial derivatives tied to monetary and foreign exchange instruments (Pasar Uang dan Valuta Asing/ PUVA).
This division allows for more specialized supervision, where OJK focuses on investment-grade digital assets while BI manages macroeconomic stability concerns related to currency and liquidity derivatives.
Innovation Balanced with Governance
While promoting technological advancement, OJK maintains a strong emphasis on governance, risk mitigation, and consumer protection. Hasan reiterated that innovation must be balanced with responsibility:
"We support the development of innovative financial services, but we also continue to stress the importance of good governance, risk reduction, and consumer protection."
This dual focus ensures that rapid growth does not come at the expense of stability or public trust. For instance, any potential expansion of CFX functions—from traditional commodity futures to crypto asset trading—will undergo comprehensive evaluation based on three key criteria:
- Market demand
- Regulatory readiness
- Industry dynamics
Such assessments will determine whether new products or services can be safely introduced without compromising market integrity.
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Frequently Asked Questions (FAQ)
Q: What are CFX fees used for?
A: CFX fees fund the development and maintenance of a secure, transparent trading infrastructure. They support regulatory compliance, technological upgrades, and market monitoring systems that benefit all participants in the digital asset ecosystem.
Q: Is OJK the main regulator for crypto assets in Indonesia now?
A: Yes, as of 2025, OJK has taken over regulatory supervision of crypto assets and other digital financial assets from Bappebti, aligning them with broader capital market regulations.
Q: How does the fee policy support long-term growth?
A: By ensuring fair access, reducing operational risks, and funding innovation, the fee structure helps build investor confidence and attracts institutional participation—key drivers of sustainable market expansion.
Q: Can CFX start trading cryptocurrencies directly?
A: Any expansion into crypto asset trading would require thorough evaluation by OJK based on market needs, legal frameworks, and risk assessments. No final decision has been announced yet.
Q: How does this affect retail investors?
A: Retail investors gain greater protection through enhanced oversight, clearer rules, and more reliable platforms. Transparent fee structures also help users make informed investment decisions.
Q: What role does technology play in the new regulatory model?
A: Advanced technologies like AI-powered surveillance, real-time reporting systems, and blockchain-based verification are central to maintaining integrity and efficiency in the updated regulatory framework.
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Conclusion
The strategic refinement of CFX fees represents more than just a regulatory update—it's a foundational move toward positioning Indonesia as a leader in responsible digital finance innovation. By aligning cost structures with long-term industry goals, enhancing security measures, and transferring oversight to specialized institutions, OJK is laying the groundwork for a mature, scalable cryptocurrency market.
As global interest in digital assets grows, Indonesia’s balanced approach—supporting innovation while enforcing robust governance—offers a model others may follow. For stakeholders across finance, technology, and policy sectors, the message is clear: sustainable growth begins with smart regulation.