Indonesia introduces new regulations for financial influencers, crypto influencers need to be licensed

CoinFeed June 25 news, according to Bloomberg, the Indonesian Financial Services Authority requires financial influencers to disclose paid promotion information and must obtain licensing qualifications for recommended assets, while stipulating that companies bear responsibility for information posted by influencers in cooperative marketing, and crypto influencers need to hold specific certifications. This move aims to improve financial literacy and protect consumers from misconduct. In February this year, the agency fined an influencer 5.4 billion Indonesian rupiah (about $300,000) for stock price manipulation.