VARA and Indonesia’s OJK Sign MoU to Enhance Cross-Border Virtual Asset Supervision

The Virtual Assets Regulatory Authority (VARA) and Indonesia’s Otoritas Jasa Keuangan (OJK) have signed a Memorandum of Understanding (MoU) focused on supervisory cooperation to deepen collaboration in the area of virtual assets.

**Mr. Hasan Fawzi and Mr. Matthew White**

Strengthening Ties Between Two Leading Virtual Asset Markets

The partnership between the two regulators aims to enhance regulatory and supervisory coordination between Indonesia, one of the largest global retail markets for virtual assets, and Dubai, a leading global destination for Virtual Asset Service Providers (VASPs), investors, and talent.

Under the MoU, OJK, Indonesia’s integrated financial regulator, and VARA, the world’s first dedicated regulator for virtual assets, will cooperate in key areas including exchange of information, capacity building, policy discussions, cross-border supervision, and investigative and technical assistance.

Focus on Responsible Innovation and Consumer Protection

Mr. Hasan Fawzi, Chief Executive of Financial Sector Technological Innovation, Digital Financial Asset and Virtual Asset Supervision, and member of the OJK Commissioner Board, said: “VARA is an institution with a well-defined mandate that closely aligns with that of IAKD. This shared mandate provides a strong basis for establishing meaningful collaboration between our two authorities. Given the global and borderless nature of digital assets, fostering cross-border cooperation with fellow supervisory authorities is crucial. Such collaboration will support greater interoperability, reinforce the effective implementation of AML/CFT standards, and enhance consumer protection within the digital asset ecosystem.”

Mr. Matthew White, Chief Executive Officer of VARA, stated: “This partnership between OJK and VARA aligns two of the world’s most dynamic and high-growth virtual asset markets on a shared vision for responsible innovation and regulatory excellence. By formalising structured cooperation on supervision, enforcement, and data sharing, we are not only strengthening investor protection and our joint capabilities to mitigate financial crime risks, but also setting new standards for cross-border oversight in an increasingly borderless economy.

"VARA is building a globally trusted framework that enables credible players to operate with confidence, clarity, and compliance. Our collaboration with OJK underscores Dubai’s role as a global nexus for the virtual asset industry by connecting emerging and mature markets through transparent, interoperable, and forward-looking regulation, White added.”

Advancing Policy Dialogue and Regulatory Interoperability

The MoU was signed on November 13, 2025, and was followed by a bilateral meeting and a series of policy discussions on digital asset supervision.

This collaboration marks a significant step toward global regulatory interoperability, further positioning Dubai and Indonesia as key players in shaping the future of responsible virtual asset oversight.