Overview

In recent years, Indonesia has seen a rapid increase in the interest shown by the general public in the trading of crypto assets. Indeed, according to statistics set out under the 2023 Global Crypto Adoption Index, Indonesia currently ranks seventh in the world in terms of total number of crypto assets.[1] In this regard, it should be noted that the first quarter of 2024 has seen an estimated 400% increase in the crypto-asset transaction rate over the figure for the first quarter of 2023. This increase is in turn having a positive impact on state income, specifically in terms of the tax revenues that are being generated through this area. In this regard, during the March 2022 - March 2024 period, the total of tax take deriving from crypto-asset transactions amounted to Rp. 580.21 billion.[2]