This research presents an in-depth analysis of digital financial asset-based retail investment innovation in Indonesia, covering the characteristics of digital assets, including digital financial assets, regulatory dynamics, and the implications of the transfer of institutional authority related to digital financial assets. Using qualitative and quantitative approaches, this document offers recommendations, including:
•⁠ ⁠Establish a comprehensive definition of digital financial assets as a guideline for regulators.
•⁠ ⁠Strengthen cross-institutional collaboration to mitigate legal political shifts related to digital financial assets.
•⁠ ⁠Increase education and transparency in fintech services to build consumer trust.
Supported by the Center for Asia Pacific Studies, Universitas Gadjah Mada, this research is an important foundation to support the development of a digital financial asset-based retail investment ecosystem in Indonesia.