Consumer Protection Becomes Focus Amid Digital Asset Growth
The growth of the digital asset industry brings both opportunities and risks for the public. Besides facing high price volatility, crypto asset users also need to pay attention to platform security, legality, operational quality, and consumer protection mechanisms before conducting transactions.
Strengthening consumer protection is one of Upbit Indonesia’s priorities. On 12 August 2026, the company announced the appointment of Irvan Tisnabudi as Head of Operations. In this position, Irvan will lead the strengthening of the company’s operations, covering security, governance, compliance, risk management, and the development of user-oriented innovation.
The appointment is part of Upbit Indonesia’s commitment to supporting the safe and sustainable growth of the digital asset industry. Irvan said the increasing adoption of crypto assets must be accompanied by stronger consumer protection standards.
“The growth of the crypto asset industry must be accompanied by rising consumer protection standards. The public needs to be able to distinguish and sort between platforms that apply top-tier standards and those that do not. In crypto investment, price volatility is already high; there should be no additional risks such as hacking or asset exploits,” said Irvan.
The ease of accessing crypto asset services provides more choices for the public. However, on the other hand, this condition also increases the risk of using illegal and low-quality platforms.
Irvan said many people still entrust their funds to unlicensed and low-quality platforms because they are tempted by high returns without considering the accompanying risks.
“Many people still entrust their funds to unlicensed and low-quality platforms. The public is still blinded by promises of high returns but ignores the risks that come with those returns. The risks faced are not only losing assets, but also the lack of protection when problems occur,” he explained.
Therefore, he urged the public to choose platforms that meet regulatory standards in Indonesia. According to him, consumers also need to check legality, operational quality, security systems, and user protection mechanisms before choosing a crypto asset platform.
“That is why we continue to encourage the public to choose platforms that meet regulatory standards in Indonesia, so they can trade and invest with peace of mind and still sleep soundly at night,” Irvan continued.
As Head of Operations, Irvan will ensure that Upbit Indonesia’s operational processes remain aligned with global standards as well as regulations applicable in Indonesia.
“At Upbit Indonesia, we believe that trust is built through high operational standards and high global standards. We also apply the highest standards in running a top-tier exchange business in line with the world’s top exchanges,” he said.
According to Irvan, strengthening security, governance, compliance, and risk management must go hand in hand with innovation. The rapid development of the digital asset industry means companies need to continuously adapt so as not to fall behind in terms of technology and services.
“We continue to strengthen security, governance, compliance, and risk management; and in parallel we also continue to innovate so as not to be left behind in this regard,” he said.
Upbit Indonesia also sees that the development of blockchain technology and on-chain-based systems will become increasingly connected to various financial services. However, this development still requires strong supervision, governance, and security.
“The crypto industry is developing very quickly and will gradually reach more and more people. We believe innovation and consumer protection must go hand in hand. Going forward, more aspects of traditional finance will migrate on-chain. Upbit continues to present new technology and products in a balanced manner while still placing security, compliance, and user interests as the top priority,” Irvan continued.
Strengthening the digital asset industry also requires collaboration between business players and regulators. Upbit Indonesia stated it is ready to collaborate with the Financial Services Authority (OJK) and other stakeholders to build increasingly solid digital asset industry standards.
“We are ready to be a partner of OJK and have so far acted not only as a trader but also as an adviser and provider of input for all stakeholders in building increasingly solid digital asset industry standards,” said Irvan.
According to him, collaboration between regulators and industry players is expected to provide room for the public to access global innovation and investment instruments with better protection. At the same time, the public is expected to be increasingly able to sort products and avoid services that do not meet standards.
“Through collaboration between regulators and industry players, we hope the Indonesian public can enjoy access to global innovation and investment instruments with better protection, and can sort and avoid misguided and low-quality products,” he continued.
With a large market and high adoption rate of digital services, Indonesia is considered to have the opportunity to become one of the centres of digital asset economic growth in the region. However, this opportunity must be accompanied by good governance so that industry growth takes place healthily.
“Indonesia has a great opportunity to become one of the centres of the digital asset economy in the region because of its large market size and strategy. To achieve this, innovation must go hand in hand with good governance, so that the industry can grow healthily while providing optimal protection for the public,” Irvan concluded.