Bittime Supports OJK's Move to Tighten Crypto Industry
The Financial Services Authority (OJK) is strengthening its oversight of the crypto asset industry by shutting down 228 illegal Digital Financial Asset Traders (PAKD) up to May 2026. The move is seen as reinforcing consumer protection while boosting public confidence in Indonesia’s digital asset industry.
The closure of hundreds of illegal platforms was carried out by OJK together with the PASTI Task Force and several related ministries and agencies. The policy was announced at a press conference on the Financial Services Sector Assessment and OJK Policy following the July 2026 RDKB meeting.
Bittime’s Chief Operating Officer Ryan Lymn said that stronger oversight is an important part of creating a healthier and more trustworthy digital asset ecosystem.
“Bittime fully supports OJK’s efforts to strengthen oversight of the crypto asset industry as part of consumer protection and building trust in Indonesia’s digital asset ecosystem. Clear regulation and consistent supervision will provide certainty for the public to invest through platforms that comply with applicable regulations,” Ryan said in a statement on Thursday (6/8/2026).
According to Ryan, the growing number of investors and transaction values shows that public confidence in digital assets remains intact. He believes that education, consumer protection and regulatory certainty must go hand in hand so that industry growth takes place sustainably.
OJK data shows the number of digital financial asset consumer accounts reached 22.69 million in June 2026, an increase of 1.32 percent compared to the previous month. Meanwhile, crypto asset transaction values reached Rp28.58 trillion, up 24.20 percent compared to May 2026.
Ryan said trading activity on the Bittime platform throughout July 2026 was still dominated by Bitcoin (BTC), Ethereum (ETH) and Solana (SOL). On the other hand, interest in alternative assets also increased, such as PEPE as well as tokenized assets SPCXX, XAUT (Tether Gold) and NVDAX.
As a digital financial asset trader registered and supervised by OJK, Bittime said it continues to expand public access to various global digital assets. The platform provides trading of crypto assets such as Bitcoin, Ethereum, Solana, XRP, USDT, and tokenized US stocks.
Ryan said that in July 2026 Bittime also obtained a digital financial asset derivatives trading licence through PT Central Finansial X (CFX). According to him, the service received a positive response from users.
Based on internal company data, Bitcoin (BTC), PUMP, Uniswap (UNI), Ethereum (ETH) and Hyperliquid (HYPE) were the most actively traded derivative assets throughout July 2026.
“This achievement reflects our commitment to continue delivering services that comply with Indonesian regulations. We believe that strengthening industry governance will provide greater certainty for the public to invest through licensed platforms,” Ryan said.
Ryan also noted that developments in the global crypto industry, including the planned cessation of operations of one international crypto exchange, serve as a reminder of the importance of governance, transparency and regulatory compliance in maintaining public trust in the digital asset industry.