Indonesian Financial Services Authority seizes an illegal cryptocurrency company

The Indonesian Financial Services Authority (OJK) identified and seized nearly 300 illegal peer-to-peer lending platforms, including a cryptocurrency company. OJK's investment warning department teamed up with the Ministry of Information Technology and local police to crack down on unlicensed financial technology platforms. The survey found that most unregistered lending platforms have servers in Indonesia, but some of them are operated abroad. . However, OJK did not disclose the name of the entity being seized, including the entity providing the cryptocurrency loan.