Catenaa, Tuesday, August 26, 2025- Indonesia is set to implement a single investor identification (SID) system for its 15.9 million crypto investors, aiming to strengthen oversight and transparency across digital asset platforms.
The Financial Services Authority (OJK) plans to assign a unique identity to each crypto investor, reducing duplicate accounts and improving governance. The system will undergo preparatory “data cleansing” and repeated know-your-customer checks to ensure every participant is uniquely verified.
OJK will coordinate with industry players to select an operator, either under independent supervision or through a regulated exchange.
The SID initiative aligns crypto oversight with Indonesia’s capital markets, where investor IDs are already standard.
Officials say the measure will enable regulators to trace funds more efficiently, enforce rules faster, and bolster investor confidence in the market.
Local exchanges, including Pintu and Indodax, welcomed the move, noting it could attract institutional money, deepen liquidity, and mitigate systemic risks.
By June 2025, Indonesia recorded 15.9 million crypto investors, though trading volumes fell to Rp 32.3 trillion ($2 billion) from the previous month’s Rp 49.6 trillion.
Experts warn, however, that centralizing identity and KYC data carries risks, including single points of failure and potential breaches that could undermine trust in the market.
