Other Developments
Stablecoin framework on a defined timeline. OJK has stated it is targeting dedicated stablecoin regulation, covering reserves, governance, consumer protection and redemption, for early 2027, and is coordinating with Bank Indonesia on digital-financial-asset risk mitigation as it develops the framework. Crypto tax transparency incoming. Indonesia will begin exchanging crypto tax data under the OECD Crypto-Asset Reporting Framework from 2027, with clear operational domain allocation already evident among the relevant bodies: Bank Indonesia retains sole payment-system oversight, OJK supervises crypto trading, and the Finance Ministry handles tax policy. Gambling-linked account screening (Sentinel feed). OJK ordered banks to use National Identity Numbers to trace and act on accounts connected to online gambling, resulting in Enhanced Due Diligence or blocking across 38,796 accounts; this finding is sourced via the Sentinel.gi feed, and the underlying illicit-finance analysis belongs to financial-integrity rather than to this brief, which notes the payment-channel dimension only.
Cross-Monitor Connections
The NIK-based bank-screening order is a shared finding with financial-integrity's AML/CFT tracking, sourced here via the Sentinel feed; this brief does not re-analyse the underlying illicit-finance question, consistent with the module specification for Sentinel-sourced W11 material. The crypto tax-data-exchange commencement under OECD CARF from 2027 also intersects with the crypto monitor's tax-treatment tracking, where the same instrument is read for its direct tax-reporting consequence to crypto-asset holders rather than, as here, for its position within Indonesia's broader regulatory-body allocation.
Outlook
PADG 31/2026's 31 December 2026 entry into force is the near-term date to track for any participant in Indonesia's central-banking-services or payment-system access framework, given its realignment of customer and CIF eligibility rules. Further out, OJK's early-2027 stablecoin-regulation target and the 1 January 2027 OECD CARF commencement sit close together on the calendar, and together with the 2029 TIKMI compliance deadline describe a multi-year sequence of regulatory tightening across licensing, digital-money and tax-transparency dimensions for payment and digital-asset participants operating in Indonesia.
1 earlier update not shown here.
Standing brief · as of 4 October 2026
Written before the update above. Where they differ, the update is the more recent position.
Lead Signal
Bank Indonesia Regulation No. 10 of 2025, effective 31 March 2026, restructures Indonesia's payment-service-provider licensing regime into distinct bank and non-bank categories, covering e-wallet, QRIS-acquiring and payment-gateway services alike. The same instrument tightens the operating environment on two further fronts: Article 122 mandates that all domestic payment-transaction processing, from initiation through settlement, occur within Indonesian territory, and Articles 118 and 119 prohibit payment-service providers from owning or managing non-Rupiah values for payment purposes, or from accepting, processing, or linking virtual currency, including crypto assets, as a source of payment funds.
Other Developments
QRIS cross-border reach keeps expanding even as the domestic licensing perimeter tightens. Bank Indonesia and the People's Bank of China launched QRIS cross-border payment interoperability on 30 April 2026, extending the QRIS network beyond its existing ASEAN, Japan and Korea footprint into a new major corridor. This liberalising development sits on a separate track from the licensing and localisation tightening described above: outbound interoperability is expanding even as inbound processing and funding-source requirements are being narrowed.
Cross-Monitor Connections
The Article 118/119 crypto-payment-funding prohibition connects directly to the crypto monitor's cross-border-transfer coverage of the same Bank Indonesia instrument, which treats the prohibition as a constraint on crypto-adjacent payment use cases; that is the crypto monitor's analysis to carry, not this one's. The Article 122 data-localisation mandate also surfaces as an adjacent signal for the data-protection monitor's cross-border-and-adequacy coverage, given its implications for cross-border processing arrangements generally, though this brief does not re-analyse data-protection law.
Outlook
Bank Indonesia's direction of travel is bifurcated: tightening market access and localisation requirements domestically while simultaneously expanding QRIS's cross-border interoperability footprint. The practical question for payment-service providers operating or planning to operate in Indonesia is how the new bank/non-bank licensing categories and the Single Ownership Policy implicit in BI Reg 10/2025 interact with existing group structures, and whether the China corridor is a template for further bilateral QRIS expansion.