Indodax CEO says Indonesian crypto industry has entered a maturation phase

Jakarta, VIVA – The Indonesian crypto industry is seen as entering a newer, more mature phase. If a decade ago the main focus was on user growth and transaction volumes, attention now shifts toward more fundamental aspects such as governance, literacy, consumer protection, and the sustainability of the ecosystem as well as its contribution to the national economy.

Indodax Chief Executive Officer William Sutanto said the current phase is a consolidation period that requires a more structural, long-term oriented approach.

“Entering the 12th year, we see the Indonesian crypto industry entering a phase of consolidation and maturation. The challenge is no longer about building awareness, but how to build long-term trust through robust governance, ongoing education, and close collaboration with regulators and the community,” William said at Indodax’s 12th Year Anniversary: On Chain, Forever Forward, as quoted in his statement, Wednesday 4 March 2026.

William explained that this consolidation phase requires industry players to strengthen security and transparency as foundational elements. This year, Indodax prioritises strengthening security by increasing investment in IT security.

“Alongside this, we are also raising transparency standards, one example being the publication of Proof of Reserves as a form of commitment to openness to members. This step is taken to ensure public trust remains intact across market cycles, enabling members to trade safely, comfortably, and sustainably,” he added.

Meanwhile, Chair of Commission XI of the Indonesian House of Representatives (DPR RI) Mukhamad Misbakhun, said that policy-wise, crypto developments should be placed within the broader framework of building digital financial infrastructure nationwide. The rapid growth in adoption must be balanced with adaptive regulation, public protection, and credible reporting and governance systems under the supervision of the Financial Services Authority (OJK).

Misbakhun explained the government takes a facilitative approach to the industry. He stated that crypto is essentially an infant industry that still needs room to grow and a grace period.

“Through the P2SK Law and democratic spaces such as a regulatory sandbox, the state is not here to ban, but to facilitate innovation such as tokenisation of real-world assets so that it continues to operate within consumer protection and anti-money laundering protocols,” he asserted.