Indonesia introduces mandatory certification for crypto influencers: new rules of the game
Indonesia's financial regulator is tightening control over the digital asset market. According to new requirements, all influencers recommending cryptocurrencies and other digital financial instruments must obtain a special competency certificate. This decision aims to increase transparency and protect retail investors from dishonest recommendations.
The key innovation: it is only permitted to advertise assets that have undergone a listing procedure on authorized trading platforms with an official license. Moreover, all advertising campaigns must be conducted through licensed financial companies and exclusively through their official communication channels.
Thus, Indonesia is introducing a two-tier filtering system: first, the asset itself must be approved by the regulator, then the influencer must confirm their professional competence. This significantly narrows the scope for manipulation and reduces the risks of so-called "pump and dump" schemes, which are often promoted through popular bloggers.
From a practical standpoint, anyone who publicly speaks about cryptocurrencies in Indonesia and has a significant audience now risks facing administrative liability if they lack the certificate. This is especially relevant for recommendations on buying tokens, participating in ICOs, or staking.
Analytical Commentary
This step is a logical continuation of the global trend toward regulating crypto advertising. Indonesia, as one of the largest markets in Southeast Asia, demonstrates that the era of uncontrolled recommendations is coming to an end. In my professional opinion, similar measures will be implemented in other countries in the region, including Thailand and the Philippines, within the next 12-18 months. For honest market participants, this is rather a positive development: certification will weed out scammers and increase trust in legitimate projects.