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P2P Crypto Arbitrage in Indonesia: OJK Rules, Taxes and the Risk of Blocked Bank Accounts

Everything specific to P2P crypto with the rupiah: which exchanges and payment methods are used right now, who is licensed by OJK and who is on the Satgas PASTI illegal list, how much tax applies to buying and selling crypto since PMK 50/2025, and why P2P sellers’ bank accounts can be blocked.

AuthorAntonio MerklePublishedOctober 30, 202611 min read

Exchanges with IDR and the current spread

Rupiah P2P ads are found on nine exchanges P2P.Army tracks, and the market is the most fragmented of all the countries in our guides: Binance holds only about 38% of the ads. All of these exchanges are foreign platforms. Licensed domestic exchanges include Indodax, Tokocrypto (affiliated with Binance, moved to the ICEx bourse in June 2026), Pintu, Upbit, Reku, Pluang and Nobi. In July 2026 Bybit launched Bybit Indonesia under OJK supervision after acquiring a majority stake in NOBI; whether that platform offers P2P is unclear. The table below is live.

Live dataIDR on P2P exchanges right now

Exchange	Buy USDT	Sell USDT	Spread	Ads	Activity 24H
Binance	18,299	18,268	+0.17%	1,009	119,673
Bybit	18,304	18,251	+0.29%	432	29,720
Okx	18,361	18,268	+0.51%	368	17,032
Bitget	18,308	18,064	+1.35%	270	27,304
Gate	18,314	18,258	+0.30%	205	7,291
Mexc	18,286	18,058	+1.26%	167	10,683
HTX	18,796	18,361	+2.37%	76	209
BingX	18,429	17,978	+2.51%	75	3,889
Kucoin	18,928	18,001	+5.15%	75	336

Averages combine different payment methods and ads from new accounts, so a large or negative spread in the table is a reason to check, not a trading signal.

Payment methods

Bank transfer and BI-FAST

Most rupiah P2P trades are paid by bank transfer — BCA, SeaBank and other banks — often via BI-FAST. Since its launch the BI-FAST limit has been Rp250 million per transaction (banks may set a lower limit per customer), and the fee to customers is at most Rp2,500. Since January 2022 OJK has prohibited financial services institutions, especially banks, from facilitating crypto trading and has asked banks to make sure accounts are not used for fraud, gambling or money laundering. As of January 2026 OJK had approved 2 banks as custodians of crypto funds, and at least 5 banks were managing PAKD funds.

E-wallets (DANA, OVO, GoPay)

E-wallet limits are much lower than those for bank transfers, so for large amounts sellers usually use a bank account.

Taxes and regulation

There are no P2P-specific rules. For a trader selling USDT via P2P on a foreign exchange, the relevant obligation is the 1% final income tax, which you pay yourself if the platform does not collect it. Keep your transaction history for your annual tax return (SPT); for your specific case, ask a tax consultant.

1. Jan 26, 2022

   OJK bans banks from facilitating crypto trading

   Banks are told to prevent accounts from being used for fraud and gambling.
2. Jul 17, 2024

   Kominfo blocks the Instagram accounts of Binance, Bybit, Bitget, KuCoin and MEXC

   Bappebti said it was also blocking domains and apps.
3. Sep 11, 2024

   Indodax is hacked

   About US$18.2 million; Indodax said user balances were safe.
4. Nov 22, 2024

   Indonesia Anti-Scam Centre starts operating

   Accounts are blocked based on reports from scam victims.
5. Jan 10, 2025

   Crypto supervision moves to OJK

   POJK 27/2024.
6. Aug 1, 2025

   PMK 50/2025 takes effect

   Final income tax of 0.21% / 1%, no VAT on sales.
7. Jan–May 2026

   Satgas PASTI shuts down 228 illegal crypto dealers

   Including Binance, Bybit Fintech and OKX.
8. Jul 2026

   Bybit Indonesia launches under OJK supervision

   After the acquisition of NOBI.

Local risks

The biggest risk for a P2P seller in Indonesia is having a bank account blocked because the incoming money came from scams or online gambling. As of July 31, 2026, the Indonesia Anti-Scam Centre (IASC) had received 636,014 reports and blocked at least 604,923 accounts. For online gambling, OJK asked banks to block 38,796 accounts (August 2026 data) and to close other accounts under the same NIK (national ID number). PPATK, the financial intelligence agency, estimated online gambling turnover at Rp286.84 trillion in 2025, and in 2024 Rp28.48 trillion in gambling proceeds was converted into crypto assets — which means gambling money also flows into P2P.

Gambling and fraud networks buy accounts in other people’s names (proxy accounts) for about Rp500,000 each, and victims’ funds are split across several P2P trades. The classic scheme is triangle fraud: the scammer copies a genuine P2P ad, the victim pays into the seller’s account, and the scammer then asks for the crypto to be sent to their own wallet. In May 2025 PPATK also froze dormant accounts en masse (more than 28 million were reopened by the end of July), so P2P accounts that have been inactive for a long time can be caught up too.

• Trade with counterparties who have 100+ orders and a 95%+ completion rate; for large amounts, merchants only.
• Accept money only from the KYC-verified account holder — never from third parties, relatives or a “company account”.
• Check incoming funds in your own banking app, not from a screenshot or an SMS.
• Use a separate bank account for P2P and withdraw profit regularly.
• For every trade, save the order number, chat, account statement, transfer reference number and the counterparty’s KYC name.
• Do not accept payments from an account or a QRIS code in someone else’s name.
• Never rent out or sell your bank account — proxy accounts are a prime target for blocking.

Full IDR market statistics — exchanges, average prices, activity and payment methods — are on the IDR page.

About the author

Antonio Merkle

Crypto expert, arbitrage trader and investor

Crypto expert and hands-on crypto arbitrage trader, investor and software developer with over 20 years of experience. On the P2P.Army blog he covers exchange news, P2P and cross-exchange arbitrage.

• Crypto arbitrage
• P2P arbitrage
• Cross-exchange arbitrage
• Crypto exchanges
• Investing
• Software development

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