Overview

• Draft measures reported as part of the 11th Judicial Reform Package would expand the financial crimes watchdog’s authority across both bank and crypto channels.
• The scope would extend to cryptocurrency exchanges, electronic money institutions and payment systems in addition to traditional banks.
• MASAK could impose transaction limits, blacklist wallets and restrict mobile or internet banking when accounts are suspected of facilitating fraud or illegal gambling.
• Exchanges would face stricter customer identification and must provide more detail on the source and purpose of transactions to align with FATF standards.
• The push follows recent actions against unauthorized platforms by the Capital Markets Board and growing domestic crypto use as regulators tighten oversight.