Dubai’s Virtual Assets Regulatory Authority (VARA) and the Indonesia Financial Services Authority (OJK) have signed a Memorandum of Understanding (MoU) to deepen collaboration in the supervision of virtual assets.
The partnership aims to enhance regulatory and supervisory coordination between two of the world’s most dynamic virtual asset markets: Indonesia, one of the largest global retail markets for crypto, and Dubai, a leading global destination for Virtual Asset Service Providers (VASPs), investors, and talent.
A new model for cross-border supervision
Under the MoU, OJK, Indonesia’s integrated financial regulator, and VARA, the world’s first dedicated virtual asset regulator, will cooperate in several key areas. These include the exchange of information, capacity building, policy discussions, cross-border supervision, and investigative and technical assistance.
The agreement was signed on 13 November 2025, and was followed by a bilateral meeting and a series of policy discussions on digital asset supervision.
Given the global and borderless nature of digital assets, both regulators stressed that fostering cross-border cooperation is crucial.
Mr. Hasan Fawzi, chief executive of financial sector technological innovation, digital financial asset and virtual asset supervision, and a 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. Such collaboration will support greater interoperability, reinforce the effective implementation of AML/CFT standards, and enhance consumer protection within the digital asset ecosystem.”
Aligning high-growth markets
The partnership aligns two high-growth virtual asset markets on a shared vision for responsible innovation and regulatory excellence.
Mr. Matthew White, chief executive officer of VARA, commented: “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.”
White added: “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.”
