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.
Officials are considering a tax on all cryptocurrency transactions in Indonesia.
Indonesian regulators consider tax on cryptocurrency transactions
The new ASEAN Blockchain Consortium aims to engage with regulators to ensure compliance and raise industry awareness.
New ASEAN blockchain consortium targets cross-border cooperation
In partnership with the Indonesian government, Kinesis is delivering digitized gold-based financial services to the local population.
Gold-as-a-currency: Kinesis launches government-backed monetary system in Indonesia
Microsoft research shows crypto-related attacks grew in Indonesia during from 2018 to 2019.
Study Shows Indonesia Was Hit Hard By Crypto-Centric Attacks
Binance launched the stablecoin on its own blockchain thanks to a collaboration with Indonesian crypto exchange Tokocrypto.
First Rupiah-Backed Stablecoin Launches on Binance and Tokocrypto
Major cryptocurrency exchange Binance is cementing its presence in Indonesia, announcing an investment in a major domestic regulated exchange Tokocrypto.
Binance Invests in Major Indonesia Crypto Exchange Tokocrypto
Major cryptocurrency exchange Binance is deepening its presence in two major emerging markets, India and Indonesia.
Binance Continues Global Push With Launch of P2P Trades for Rupee and Rupiah