Indonesia's Jokowi Intensifies Crypto and NFT Money Laundering Monitoring

IconCrypto News Terminal24 Apr, 2024

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Indonesia's Jokowi Intensifies Crypto and NFT Money Laundering Monitoring

Indonesia's president, Joko Widodo, has instructed the country’s financial intelligence unit (PPATK) to step up monitoring of money laundering using cryptocurrencies and non-fungible tokens (NFTs). The president cited data from blockchain analytics firm Chainalysis' 2022 Crypto Crime Report, emphasizing the significant amount of money laundering activities involving crypto in 2021, reaching $8.6 billion. “In addition to crypto and NFTs, we have to monitor various tools that can be used for money laundering, such as virtual assets, electronic money and artificial intelligence-based transactions,” the president stated. Previously on April 24, 2024, Indonesia's President Joko Widodo instructed the country’s financial intelligence unit (PPATK) to step up monitoring of money laundering using cryptocurrencies and non-fungible tokens (NFT).

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