You can see the rules and regulations in other jurisdictions.
In Indonesia, while there are no specific rules or regulations for blockchain technology, two different regulations issued by Bank Indonesia and the OJK concerning financial services and payment systems do make reference to it. Regulation 23/6 issued by BI makes provision for the use of blockchain technology or distributed ledger technology for fund transfers, e-money, e-wallet or mobile payments to be considered as a form of financial technology in the payments system sector. Additionally, OJK Reg 13 indicates that activities such as invoice trading, voucher use and tokenisation fall within the scope of digital financial innovation related to other financial services.1
According to the Capital Market Law, securities include promissory notes, commercial papers, shares, bonds, evidence of debt, participation units in collective investment contracts, futures contracts over securities, and derivatives of securities. Tokens would not qualify as securities under Indonesian law, taking a conservative approach.1
