<ul data-eligibleForWebStory="true"><li>Indonesia's crypto industry faces a compliance challenge for regulatory approval and user trust.</li><li>Crypto firms in Indonesia must adhere to OJK's regulations and the Travel Rule to stay competitive.</li><li>A focus on building trust, transparency, and compliance is crucial in the evolving landscape.</li><li>Regulated entities are required to implement governance, risk management, and cybersecurity measures.</li><li>The Travel Rule mandates secure collection and transmission of sender-recipient information for crypto firms.</li><li>Fragmentation across jurisdictions poses challenges in complying with the Travel Rule.</li><li>Indonesia's vulnerability to identity fraud underscores the importance of strong compliance programs.</li><li>Engaging with regulators, adopting technology solutions, and investing in infrastructure are key for compliance.</li><li>Sumsub offers solutions for crypto firms to tackle compliance challenges effectively.</li><li>The shift to financial asset classification in Indonesia requires crypto firms to align with traditional financial standards.</li></ul>

Crypto Firms in Indonesia Must Rethink Their Compliance Now, Or Risk Losing Out

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