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Indonesia is building a new foundation for the crypto asset ecosystem, with increasingly strong regulations, growing adoption, and expanding institutional involvement. With 22.69 million crypto users as of June 2026, the industry’s focus is not only on expanding the market, but ensuring that innovation, consumer protection, and institutional readiness can go hand in hand
Through Coinfest Asia 2026 which brings together governments, regulators, as well as local and global industry players, the discussion highlights the importance of maintaining a balance between regulatory certainty and space for the ecosystem to continue to grow. This balance is important so that the growth of the industry remains healthy and sustainable.
Compliance and Innovation Need to Go Hand in Hand
Co-Founder of INDODAX, Oscar Darmawan, assessed that compliance remains an important thing in the development of the industry, especially to open a larger space for institutional participation. However, consumer protection needs to go hand in hand with the ability of domestic players to continue to present relevant products and services. In his panel session, Oscar highlighted that product and service factors also influence user decisions to choose offshore platforms.
“Compliance is still needed because it is one of the foundations for institutions to enter this industry. At the same time, innovation also needs to continue. If products and services in the country are increasingly developed, users will have more reasons to stay in a regulated ecosystem and get better protection,” said Oscar, quoted Saturday, August 22.
Oscar also sees the OJK regulatory sandbox as an important space to test new innovations before being applied more broadly, so that industry development continues to consider consumer protection aspects as a top priority.
“The development of innovation in the crypto industry is very fast. With the regulatory sandbox, innovation can be tested and evaluated first before being applied more broadly. This approach can help the Indonesian crypto ecosystem develop more orderly while providing room for innovation acceleration,” he added.
Government Promotes Acceleration of Organized Ecosystem
Deputy Minister of Investment and Industrialization, Todotua Pasaribu, assessed that blockchain and digital assets including cryptocurrencies are increasingly relevant to support national investment needs. He also sees Bali as having the opportunity to grow from a tourism destination to an investment, technology, and innovation center, including for the fintech, Web3, digital assets, and crypto communities.
“The government can build a framework, regulators provide certainty, but companies and innovators build the future,” he concluded.
Similarly, the Chairman of Commission XI of the Indonesian House of Representatives, Mukhamad Misbakhun, assessed that regulations in the digital financial sector need to continue to adapt to technological developments without suppressing innovation space. He also emphasized the importance of human retutional readiness
“Institutional readiness will not mean anything without capable human rebuilding a strong ecosystem,” he explained
Liquidity and Quality Are the Keys to Global Projects Entering Indonesia
From the market side, Vice President of Business Development INDODAX, James Eugene, said the success of a project in Indonesia does not stop at the listing process. INDODAX also considers the demand, liquidity, quality of the project, utility, and sustainability of its ecosystem.
“Market share, demand, and liquidity are important factors in the listing process. In the end, the quality of the project and the ability to create market fit will determine its sustainability,” said James.
As Indonesia’s top crypto exchange, INDODAX sees the momentum of Coinfest Asia 2026 as an opportunity to encourage an ecosystem that is not only compliant with regulations, but also able to continue to innovate, attract institutional participation, and provide increasingly broad protection and benefits for the Indonesian people.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language.
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Source: voi.id