Hasan Fawzi, the Chief Executive for Financial Technology Innovation Oversight, Digital Financial Assets, and Cryptocurrency at the Financial Services Authority (OJK), revealed that the number of cryptocurrency customers in Indonesia is on the rise.

Fawzi explained that as of September 2023, the registered customer count for crypto assets reached 17.91 million customers. This figure represents a 0.67 percent increase, which amounts to approximately 12,000 individuals compared to the previous month, August 2023, when the total was 17.79 million people.

Furthermore, Fawzi noted that while the number of cryptocurrency customers in Indonesia is increasing, the value of cryptocurrency asset transactions is on a declining trend.

“In September 2023, the cumulative value of cryptocurrency asset transactions in Indonesia amounted to Rp 94.4 trillion in the year 2023,” Fawzi stated during the Financial Services Sector Assessment & OJK Policy Briefing for the Monthly RDK in October 2023, held on Monday, October 30, 2023.

For September, the total cryptocurrency transactions in Indonesia only reached Rp 7.96 trillion. This marked a decrease of 25.2 percent compared to the previous month, which had recorded a figure of Rp 10.64 trillion.

Under the Financial Sector Development and Strengthening Act (PPSK), OJK is tasked with regulating and overseeing activities in the financial technology innovation sector, digital financial assets, and cryptocurrencies.