Indonesia Tightens Rules on Crypto Finfluencers

Indonesia's Financial Services Authority (OJK) issued new regulations for financial influencers – the finfluencers who promote crypto and other investment products on social media. The rules require registration with the OJK and mandatory disclosure of compensation, the regulator said. Influencers must include standardised risk warnings, especially for volatile assets like crypto tokens.

The move follows similar crackdowns on influencer promotions in the UK, Spain, and Australia. Under the new framework, anyone providing financial advice or promoting products through YouTube, Instagram, TikTok, or Telegram must register. Crypto exchanges and token issuers that hire influencers must verify registration and compliance.

Indonesia is one of Southeast Asia's largest crypto markets, with millions of retail traders who rely on local influencers for trade ideas and token picks. The rules could reduce paid promotions for smaller tokens that depend on influencer hype to attract buyers. Registration and disclosure requirements may push some influencers to stop covering crypto entirely rather than comply. Others will shift to educational content without specific endorsements.

Traders and exchanges face a period of adjustment. The OJK said it will publish a list of registered finfluencers on its website, giving investors a way to verify who is authorised. The regulator will monitor platforms for compliance and can impose sanctions on influencers or the companies that hire them.