According to data from Bappebti, over 60% of cryptocurrency investors in Indonesia in September were between the ages of 18 and 30. Total trading volume reached 33.7 trillion rupiah (2.1 billion USD), with 21.3 million crypto users. The most traded cryptocurrencies included USDt (Tether), ETH (Ethereum), BTC (Bitcoin), PEPE (Pepe), and SOL (Solana).
Cryptocurrency Regulations in Indonesia
In Indonesia, cryptocurrency is recognized as a commodity and is regulated by Bappebti. However, users face challenges from a dual taxation system, including a 0.11% value-added tax and a 0.1% capital gains tax, both applied since 2022.
Bappebti is urging the Indonesian government to reconsider cryptocurrency taxes, with hopes that crypto will soon become a significant part of the economy. Tirta Karma Senjaya from Bappebti expressed a desire for collaboration with the Directorate General of Taxes to review these taxes.
The Dream of Getting Rich?
The cryptocurrency demographics in Indonesia align with global trends. In the U.S., a Policygenius survey found that 20% of Generation Z and 22% of Millennials invest in cryptocurrency more than previous generations. In 2023, Bitget research across 26 countries showed that 46% of young people in major economies own cryptocurrency.
