Indonesia Requires Crypto Influencers to Get Competency Certificates

OJK’s approach mirrors a global pattern. Australia’s securities regulator issued guidelines for financial content creators in March 2022, requiring a financial-services license when the material amounts to advice. Britain tightened its financial promotion rules in 2024, making unauthorized creators subject to criminal prosecution. The Financial Conduct Authority led a multinational enforcement action in April 2025 that secured removal of 1,267 advertisements reaching roughly 2.3 million social media users – 17 regulators participated. The Philippines passed crypto-specific marketing rules in 2025, requiring licensed service providers to register third-party marketing partners with the securities commission. South Korean lawmakers have proposed a bill that would force influencers to disclose their personal crypto holdings and compensation, with penalties comparable to market-manipulation sanctions.

For traders and platforms operating in Indonesia, the immediate effect is compliance cost. Exchanges must audit their influencer relationships, verify certifications, and approve all promotional content. Influencers face a choice between sitting the OJK exam or abandoning crypto sponsorships. The regulation does not ban endorsements – it shifts accountability to the licensed entity that controls the marketing budget.

The most likely friction point is enforcement. OJK has not published a timeline for certification deadlines or a list of approved testing bodies. Influencers based outside Indonesia who reach Indonesian audiences are not explicitly exempt, raising jurisdictional questions. The regulator said it will apply the rules to any influencer targeting Indonesian consumers, regardless of where the influencer lives or posts from.

Indonesia’s crypto market is small relative to regional peers – monthly exchange volume hovers around $2 billion – but it has one of the highest rates of retail crypto ownership in Southeast Asia. A 2024 survey by the Indonesian Crypto Asset Traders Association found that roughly 30% of new investors entered the market after watching an influencer. That statistic is likely why OJK chose this point of leverage.