Asset Forfeiture Bill Targets Crypto and Shareholdings

Jakarta, CNBC Indonesia — The House of Representatives’ Commission III is still deliberating the Asset Forfeiture Bill. One issue being pushed for inclusion is a comprehensive mechanism to trace and confiscate proceeds of crime, including assets held overseas or transferred into modern financial instruments such as cryptocurrencies and shares.

Commission III member Yulius Setiarto said such provisions were important to anticipate evolving criminal methods, particularly corruption and money laundering, which often involve cross-border assets and the transfer of wealth into different forms.

“We must think imaginatively about the most effective way to ensure law enforcement agencies have the scope to pursue assets overseas through an expansion of Mutual Legal Assistance (MLA),” the PDI Perjuangan politician said, as quoted on Thursday (15 October 2026).

He said asset-tracing and confiscation mechanisms should cover wealth that no longer takes conventional forms. In addition to cryptocurrencies and shares, the legislation should address assets converted into other forms of wealth, included in jointly owned property, or used as collateral for bank loans.

“Pursuing assets in forms that are no longer conventional: crypto, shares, and assets that have been divided among various other holdings, included in jointly owned property, used as bank collateral, and so on,” he said.

Commission III member M. Nasir Djamil added that the Asset Forfeiture Bill should also strengthen asset-tracing and confiscation mechanisms, particularly when criminal proceeds have been concealed, transferred to another owner or sold.

He noted that the Attorney General’s Office has an Asset Recovery Agency, while provincial high prosecutors’ offices have assistant asset recovery units. However, he said asset tracking still faces challenges.

The proposed provisions are therefore expected to help speed up the recovery of state losses in accordance with procedures set out in legislation.

“The Asset Forfeiture Law is expected to support the tracing and confiscation of criminal proceeds from an early stage—before a court ruling becomes legally binding—so that state losses can be recovered promptly,” said the PKS politician.