Indonesia sets certification rules for influencers recommending crypto

Indonesia sets certification rules for influencers recommending crypto

Indonesia’s financial regulator will require influencers recommending crypto and other digital assets to hold relevant certifications as regulators worldwide tighten oversight of finfluencers.

Machine translated excerpt of the OJK announcement. Source: OJK

Australia and the UK were among the earlier jurisdictions to clarify how existing financial laws apply to influencers. In March 2022, the Australian Securities and Investments Commission (ASIC) said influencers may require a financial services license when their content amounts to financial advice or helps arrange transactions. It also warned that licensed financial firms may be liable for misconduct by influencers they engage with.

In 2024, the UK Financial Conduct Authority (FCA) issued guidance saying unauthorized influencers may commit a criminal offense when promoting regulated financial products without approval from an appropriately authorized firm.

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On April 24, the FCA led an international “week of action” campaign targeting illegal finfluencers. According to the FCA, 17 regulators participated, conducting enforcement activity, consumer awareness campaigns and educational programs for influencers who want to act responsibly. The FCA said it submitted 120 account-takedown requests covering 1,267 illegal financial advertisements that had reached at least 2.3 million UK social media accounts.

Meanwhile, the Philippines introduced crypto-specific marketing restrictions in 2025 that cover endorsements, sponsored material, social media posts, podcasts, livestreams and certain paid educational content. Under the rules, crypto asset service providers are required to disclose their authorized third-party marketers to the Philippine Securities and Exchange Commission.

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