News
Bitcoin Indonesia said it recently pitched Bitcoin to the vice president’s office and discussed Bitcoin mining as a national reserve strategy.
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Indonesia News
Indonesia, or officially the Republic of Indonesia, is a state in Southeast Asia. Indonesia is the fourth largest country in the world by population and it is one of the most perspective countries for economic development. In terms of cryptocurrency, Indonesia’s central bank announced that cryptocurrency was illegal in 2017 and, after that, there were meetings conducted with the aim of creating regulations of the cryptocurrency market. Currently, Indonesia’s Bitcoin market is less than one percent of the global cryptocurrency market. There are two Indonesian Bitcoin exchange platforms. However, they sell Bitcoin only at a fixed price. Nevertheless, Indonesian authorities have recently claimed a neutral position about cryptocurrency in Indonesia.
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The Philippines SEC flagged OKX, Bybit, KuCoin and others for offering crypto services without authorization, warning of enforcement and app store bans.
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Indonesia’s Finance Ministry raised taxes for crypto miners and sellers, while exempting some crypto transactions from VAT.
2945 - Opinion
Crypto adoption is rapidly growing in high-growth markets, where the technology is solving real-world problems, like remittances, financial inclusion and supply chain inefficiencies.
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DigiAsia shares doubled in a single day after the company announced plans to raise $100 million and allocate half of its profits toward buying Bitcoin
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Indonesia’s Digital Ministry is seeking public input to its probe into World’s local operators, alleging suspicious activity and registration violations.
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Hashlabs CEO Jaran Mellerud says US crypto miners could rush to buy mining rigs amid Donald Trump’s 90-day tariff pause but baseline levies will leave them at a disadvantage.
2450 - Opinion
Indonesia emerges as a global Web3 leader with high crypto adoption, a young tech-savvy population and supportive regulations.
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2024 transaction totals are up more than 350% year-over-year, but still well below Indonesia’s 2021 highs.
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The total volume of crypto transactions in Indonesia in September reached 33.7 trillion Indonesian rupiah, worth $2.1 billion.
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Indonesia’s state-owned postal service has launched a physical postage stamp with an NFT counterpart.
2500 - Interview
IADERN principal Tuhu Nugraha believes that the prolonged and complex registration process hampers growth and innovation in Indonesia’s crypto ecosystem.
4477 - News
Binance described Tokocrypto as its “subsidiary,” suggesting that it may have a controlling stake in the Indonesian trading platform.
3151 - Spotlight
Bali Blockchain Summit highlighted how Indonesia is embracing blockchain technology to drive economic growth and digital transformation.
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Telegram has reportedly failed to improve moderation and issue a resolution over illicit content distribution after several requests from Indonesia.
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