DSN MUI Awaits Exchange Infrastructure from OJK for Sharia Crypto Assets

The National Sharia Council of the Indonesian Ulema Council (DSN MUI) has not yet formalized a fatwa regarding sharia crypto assets in Indonesia and is waiting for the readiness of digital trading infrastructure from the Financial Services Authority (OJK). The Deputy Treasurer of DSN MUI, M Gunawan Yasni, stated that the issuance of a fatwa must consider compliance with Islamic law as well as the reliability of the ecosystem and transaction mechanisms. DSN MUI wants the sharia crypto asset market to have clear references, similar to the trading system in the capital market. Gunawan emphasized the importance of the existence of Self-Regulatory Organizations (SRO) such as the Indonesia Stock Exchange (IDX) and the Central Securities Depository of Indonesia (KSEI) to ensure transaction certainty. DSN MUI also wants a similar investor protection model to be applied to sharia crypto asset trading. The process of transforming the fatwa draft at DSN MUI can proceed quickly, but it requires an official request letter from OJK. The current requests only come from industry players through the Indonesian Sharia Fintech Association (AFSI). This coordination is increasingly important as the supervision of crypto assets has shifted from Bappebti to OJK since early 2025.

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