Indonesia tells finfluencers: get certified, or get off the chart 📜

Indonesia's financial regulator has introduced mandatory competency certification requirements for social media influencers who recommend crypto and other digital financial assets, formalizing oversight of financial promotions across platforms. Under Financial Services Authority Regulation No. 6 of 2026, announced Wednesday, individuals recommending digital assets must obtain the certification unless they are already subject to a separate licensing requirement.

The rules restrict which products influencers can promote and how campaigns are conducted. Influencers may recommend only digital assets listed on authorized exchanges, and any service provider they recommend must also be licensed. Marketing campaigns must be run through regulated financial services businesses, which are responsible for the promotional content, and distributed through those firms' official communication channels.

Indonesia is joining a growing list of jurisdictions tightening oversight of financial influencers, also known as finfluencers. Australia and the United Kingdom have moved to clarify how existing financial laws apply to influencer content, while the Philippines has adopted crypto-specific marketing restrictions.

In March 2022, the Australian Securities and Investments Commission said influencers may require a financial services license when their content amounts to financial advice or helps arrange transactions, and warned that licensed financial firms may be liable for misconduct by influencers they engage with. In 2024, the UK Financial Conduct Authority issued guidance stating that unauthorized influencers may commit a criminal offense when promoting regulated financial products without approval from an appropriately authorized firm.

The FCA led an international "week of action" campaign on April 24, with 17 regulators conducting enforcement activity, consumer awareness initiatives and educational programs for influencers. The FCA said it submitted 120 account-takedown requests covering 1,267 illegal financial advertisements that had reached at least 2.3 million UK social media accounts.

The Philippines in 2025 introduced crypto marketing rules covering endorsements, sponsored material, social media posts, podcasts, livestreams and certain paid educational content, requiring crypto asset service providers to disclose their authorized third-party marketers to the Philippine Securities and Exchange Commission.