Indonesia’s Financial Services Authority (OJK) has introduced OJK Regulation No. 16 of 2025 (POJK 16/2025), which for the first time requires Fit and Proper Tests (FPT) for controlling shareholders, directors, commissioners, and other key decision-makers in the Fintech and Digital Assets (FADA) sector. The FPT is not a procedural formality but a mandatory legal requirement, with significant implications in the event of non-compliance. As such, it becomes a critical consideration for all parties involved in the FADA sector. This regulation strengthens governance and compliance standards which marks a major shift from the previous Bappebti framework.

In this article, Andre Rahadian (Partner), Mika Isac Kriyasa (Partner), and Gabriela Zefanya Hartanto (Associate) of Dentons HPRP analyze the scope of the new requirements, the implications of non-compliance, and their impact on acquisitions, ownership, and governance in Indonesia’s digital economy. Drawing from their experience in regulatory compliance, digital finance, and corporate transactions, the authors provide practical guidance for industry participants navigating this transition.

Read the full article here.

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