Indonesia – Ƀitsell X

India, Nigeria, Indonesia Lead Chainalysis 2024 Crypto Adoption Index

September 12, 2024

India, Nigeria, and Indonesia top Chainalysis’ latest global crypto adoption index, which ranks 151 countries based on grassroots cryptocurrency usage, adjusted for population and purchasing power. The report notes strong growth in crypto activity, particularly in lower-income nations. Chainalysis Highlights Global Cryptocurrency Adoption Blockchain data analytics firm Chainalysis published an excerpt from its 2024 Geography…
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Binance-Backed Tokocrypto Achieves Major Milestone With Indonesian License

September 10, 2024

Crypto exchange Tokocrypto, a part of Binance Group, has achieved a major milestone by securing the Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti), allowing it to operate as a licensed crypto asset trader. This move highlights Tokocrypto’s commitment to regulatory compliance and strengthens its position in Indonesia’s growing…
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Indonesia and South Korea Sign New Local Currency Agreement to Boost Trade

September 1, 2024

Bank Indonesia, the Bank of Korea, and South Korea’s Ministry of Economy and Finance have introduced a local currency transaction framework to boost bilateral trade using the rupiah and won. This initiative aims to reduce exchange rate risk and improve transaction efficiency by facilitating direct currency transactions between the two nations, bypassing the need for…
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Indonesian President Cautions Against Crypto in Money Laundering Risks

April 24, 2024

The President of Indonesia Joko Widodo has raised concerns over the use of cryptocurrencies in money laundering. According to a recent report by Antara, President Widodo highlighted the alarming volume of illicit financial flows during his address at the 22nd Anniversary of the National Movement for Anti-Money Laundering and Terrorism Financing Prevention. Indonesia Joins Global…
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Crypto Firms to Undergo Regulatory Sandbox Evaluation Before Licensing in Indonesia

March 28, 2024

Starting in January 2025, crypto firms seeking to operate in Indonesia must undergo evaluation in a regulatory sandbox before being licensed. This regulatory change will come into effect as supervision of the crypto industry transitions to the Financial Services Authority (OJK). Firms offering crypto services in Indonesia without undergoing evaluation in the sandbox will be…
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Indonesia’s Crypto Transactions Skyrocket to $1.92 Billion in February

March 18, 2024

Indonesia has witnessed an impressive surge in cryptocurrency transactions, with the total reaching IDR 30 trillion ($1.92 billion) in February, according to the country’s crypto regulator. The Commodity Futures Trading Supervisory Agency (Bappebti) reported that the number of registered crypto investors in the country also experienced substantial growth, reaching 19 million last month, with an increase of…
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Indonesia Watchdog Urges Finance Ministry to Re-Evaluate Crypto Tax Regime

March 4, 2024

Indonesian crypto regulator has requested the country’s Finance Ministry to reconsider the current ‘dual taxation’ on crypto transactions. Cryptocurrencies are commodities in Indonesia and currently imposes 0.11% value-added tax and 0.1% income tax. Indonesia’s Commodity Futures Trading Supervisory Agency (Bappebti) officials argued last week that the double-taxation on crypto transactions require reassessment. According to Tirta…
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Indonesia’s Presidential Election Sees Crypto-Friendly Team in the Running

February 15, 2024

Indonesia former Defense Minister Prabowo Subianto has declared victory in the presidential election following unofficial vote counts indicating a significant lead, potentially securing a single-round win in his third bid for the presidency. Subianto, along with his pro-crypto running mate Gibran Rakabuming Raka, have been chosen as Indonesia’s next president and vice president, respectively. Prabowo…
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How Indonesia’s Election Outcome Will Impact Crypto

February 14, 2024

Indonesia, a trillion-dollar economy, is impossible to ignore. The country held its election on Wednesday with defence minister Prabowo Subianto and ex-governors Anies Baswedan and Ganjar Pranowo all competing to become the next president. In December, Indonesia’s Mayor Gibran Rakabuming Raka, a vice presidential candidate in Indonesia’s election, said he aims to accelerate Indonesia’s position…
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Indonesia Expands De-Dollarization Efforts With National Task Force Formation

September 9, 2023

Indonesia’s central bank has established a national task force to expand the use of local currency with partner countries. Malaysia, Thailand, Japan, and China are already trading with Indonesia using local currencies. In addition, Singapore and South Korea have signed cooperation agreements to build a local currency transaction framework with Indonesia, according to the central…
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Category: Indonesia