Indonesia just made it a lot harder to hawk crypto tokens to your followers without consequences. The country’s Financial Services Authority, known as OJK, issued POJK No. 6/2026 on June 24, establishing a formal regulatory framework for financial influencers, or “finfluencers” as the industry has come to call them.

The new rules require anyone disseminating information about financial products, including investments, loans, and digital assets, to hold specific licenses or certifications. They must also disclose any economic interests they have when promoting financial products. In English: if someone is getting paid to tell you about a token or a stock, they now legally have to say so.

What the rules actually require

Disclosure requirements are equally pointed. Any economic benefits obtained from financial services businesses, referred to as PUJK under Indonesian regulation, must be made transparent to the audience. This applies whether the compensation comes directly from the company or indirectly through consumer-facing deals.

For crypto specifically, the rules are even tighter. Promotions concerning crypto assets must occur exclusively through officially licensed PUJK channels.

And the enforcement mechanism has real teeth. OJK can request the Ministry of Communication and Digital Affairs to block or suspend accounts that violate these guidelines. Licensed financial services providers are also held accountable for the content shared by their influencer partners, creating a chain of liability that incentivizes companies to vet their marketing relationships more carefully.

Why now, and why it matters

Indonesia isn’t acting in a vacuum. The country joins Singapore and India in tightening oversight of financial influencers, reflecting a broader global reckoning with the outsized influence that social media personalities wield over retail investment decisions.

The urgency is rooted in real harm. A penalty of 5.35 billion rupiah was levied against a notable influencer identified as BVN for stock manipulation in February 2026. That case put a spotlight on how unchecked influencer activity can distort markets and damage retail investors who follow advice from people with undisclosed financial motivations.

Fraudulent investment schemes have also proliferated across Indonesian social media. The rise of easy-to-access platforms for stocks, digital assets, and peer-to-peer lending created fertile ground for misleading promotions.

The OJK has framed the regulation as balancing financial literacy initiatives with consumer protection.

What this means for investors and the crypto market

For retail investors in Indonesia, the immediate effect should be greater transparency. Knowing whether an influencer is being compensated to promote a particular token or financial product is fundamental information that was previously optional to share. Now it’s mandatory.

The crypto-specific restriction, limiting promotions to licensed PUJK channels, could meaningfully reduce the volume of speculative token marketing that reaches Indonesian consumers.

For crypto companies and exchanges operating in Indonesia, the compliance burden just increased. Any firm using influencer marketing will need to ensure their partners hold proper certifications and make required disclosures. The fact that OJK holds the licensed providers accountable for influencer misconduct means companies can’t simply outsource their marketing and wash their hands of responsibility.