Indonesia has introduced mandatory certification requirements for social media influencers who recommend cryptocurrencies and other digital financial assets, adding new compliance rules for online financial promotions.
Summary
- Indonesia now requires certification for influencers who recommend cryptocurrencies and other digital financial assets.
- Crypto promotions can feature only authorized digital assets and licensed service providers under the new rules.
- Indonesia joins countries including Australia, the UK, the Philippines, and South Korea in tightening oversight of financial influencers.
Indonesia’s Financial Services Authority has issued Financial Services Authority Regulation No. 6 of 2026, requiring individuals who recommend cryptocurrencies and other digital financial assets to obtain competency certification unless they already hold a separate license that covers the activity.
The regulation, announced Wednesday, also limits influencers to promoting only digital assets listed on authorized exchanges. Any digital asset service provider featured in promotional content must hold the necessary regulatory license.
Per the directive, marketing campaigns must be carried out through regulated financial services businesses, which remain responsible for the promotional material. Those campaigns must also be distributed through the businesses’ official communication channels rather than through independent influencer campaigns.
Other regulators have also tightened finfluencer rules
Indonesia joins several jurisdictions that have tightened oversight of financial influencers as regulators respond to the growing role of social media in investment decisions.
Australia’s Securities and Investments Commission clarified in March 2022 that influencers may need an Australian financial services license if their content amounts to financial advice or helps arrange financial transactions. ASIC also warned that licensed financial firms can be held responsible for misconduct by influencers they hire.
The United Kingdom’s Financial Conduct Authority introduced guidance in 2024 stating that unauthorized influencers could commit a criminal offense by promoting regulated financial products without approval from an authorized firm.
On April 24, the FCA coordinated an international “week of action” against illegal financial promotions. The regulator said 17 authorities participated in enforcement operations, consumer awareness campaigns, and educational initiatives for influencers. It also submitted 120 requests to remove 1,267 illegal financial advertisements that had reached at least 2.3 million UK social media accounts.
South Korea has also moved toward tighter oversight of financial influencers. In February, lawmakers from the Democratic Party proposed legislation that would require influencers promoting cryptocurrencies or stocks to disclose their personal holdings and any compensation received for recommendations. The proposal would impose penalties similar to those used in unfair trading cases if disclosure requirements are violated.
The South Korean proposal followed other regulatory measures introduced this year, including AI-powered market surveillance by the Financial Supervisory Service and additional reporting obligations that require certain foreign property investors to disclose cryptocurrency transaction histories.
