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To reshape the landscape of the cryptocurrency industry in Indonesia, the Financial Services Authority (OJK) has announced that crypto firms will be subject to evaluation in a regulatory sandbox before they can obtain licenses to operate. This development comes as part of the transition of regulatory oversight from the commodities and futures trading regulator, Bappebti, to OJK, scheduled to take place in January 2025. New Measure to Enhance Crypto Sector Security Under the new regulatory framework, firms offering crypto services in Indonesia will be required to undergo evaluation within the regulatory sandbox. Failure to comply with this prerequisite will result in such firms being deemed to operate illegally within the country. A regulatory sandbox functions as a controlled environment where innovative financial products and services can be tested to ensure their safety and reliability. It provides a pla
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