The Indonesian financial authorities said that by the beginning of 2025, the government will implement a regulatory sandbox for crypto assets in an effort to prevent fraudulent investments.
The Indonesian Financial Services Authority (OJK) said that local financial services institutions offering new products and services must be included in the regulatory sandbox or leave room for testing upcoming innovations, including crypto asset products.
According to a report by local Indonesian media outlet DetikFinance, once regulated and supervised, crypto assets will also need to go through a regulatory sandbox in the future.
This means crypto firms in the sandbox stage will have to be evaluated by the regulator before being approved to operate in the country.
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Source: https://cointelegraph.com/news/indonesia-implement-regulatory-sandbox-crypto