Crypto in Indonesia: Rocketing Growth

In Indonesia, there are 21.3 million cryptocurrency users, and in September, transaction volumes reached 33.7 trillion rupiah (about $2.1 billion). Of these users, 26.9% are under 24 years old, and 35.1% are between 25 and 30 years old. Popular cryptocurrencies include stablecoins USDT, ETH, BTC, SOL, and PEPE tokens.

Crypto assets are officially recognized as commodities, but local traders face double taxation: a VAT of 0.11% and a capital gains tax of 0.1%. Bappebti Director Tirta Karma Senjaya believes cryptocurrencies will soon become part of the economy and has urged the government to ease the tax regime.

Recently, Bappebti extended the application deadlines for exchanges to comply with new requirements.