Entering a New Phase, Crypto Industry Deemed to Need Ecosystem Strengthening
Jakarta – Domestic blockchain and crypto asset industry players have stated the need to strengthen the ecosystem in order to create broader and more inclusive economic value. This comes as Indonesia’s blockchain and crypto asset industry enters a new phase.
Indodax Chief Executive Officer William Sutanto said this new phase is marked by a stronger regulatory framework and the wider use of blockchain technology across various sectors through the tokenisation of real world assets (RWA), intellectual property tokenisation, and digital infrastructure development.
“This development marks an industry framework that no longer focuses solely on crypto asset trading, but also on strengthening the ecosystem to create broader and more inclusive economic value,” he said in a statement in Jakarta, quoted on Sunday, 16 August 2026.
He explained that the transition of crypto asset supervision to the Financial Services Authority (OJK) has proceeded relatively well through a soft landing approach. The next phase, he said, should be directed at strengthening the ecosystem, particularly through broader integration with other financial services institutions and regulations that continue to provide room for innovation.
“The most important thing is how stronger regulatory certainty can become the foundation for the industry to become a space for innovation and broader integration with the financial ecosystem while maintaining consumer protection,” William said.
He added that the regulatory framework must continue to be based on room for innovation, access to broader markets, and consumer protection.
Given the rapid development of the crypto industry, he said the ability to accommodate innovation is important so that domestic players can grow and compete at the global level.
“The crypto industry is developing very quickly. Therefore, what needs to be continuously sought is a balance so that innovation still has room to develop, while consumer protection remains a priority,” he said.
On the market side, speaking at Indonesia Blockchain Week 2026, he said the growing number of licensed exchanges or crypto asset trading companies is a positive development as it provides choices for consumers.
However, amid a global decline in crypto trading volume, he cautioned that market volume must move in balance with the growth in the number of players to mitigate the risk of consolidation in the national crypto industry.