Upbit Indonesia has received official approval from the country’s financial regulator to operate as a digital asset trading platform, signaling a potential comeback in the local crypto market.
On March 30, industry sources confirmed that Upbit Indonesia was granted a Digital Financial Asset Trader business license (PAKD) by the Financial Services Authority of Indonesia (Otoritas Jasa Keuangan, OJK).
The company stated that it obtained approval under regulation KEP-6/D.07/2025. It also noted that its compliance with anti-money laundering and counter-terrorism financing (AML/CFT) measures, investor protection policies, and security standards had been officially recognized.
Upbit Indonesia pursued the new license following regulatory changes under the Financial Sector Development and Strengthening Law (P2SK), enacted in 2023. Oversight of crypto exchanges was transferred from Bappebti (the Commodity Futures Trading Regulatory Agency) to OJK. Upbit Indonesia had originally registered with Bappebti in December 2019.
Once the largest crypto exchange in Indonesia by trading volume, Upbit Indonesia has since fallen to fourth place behind Indodax, Bitimi, and Tokocrypto due to intensified competition. With this new license, the company aims to regain market share.
“This approval is a strategic milestone,” said Upbit Indonesia. “We’re committed to delivering the best trading experience in full compliance with OJK standards.”
