Indonesia Shakes up Crypto Taxes as Digital Asset Trading Explodes
The new tax rules come as Indonesia’s crypto market has exploded in popularity. Transaction values tripled in 2024 to 650 trillion rupiah ($39.67 billion), while the number of crypto users reached over 20 million people – more than the country’s stock market has investors.
Indonesia will implement major tax increases on cryptocurrency trading starting August 1, targeting a market that has grown to over $39 billion in transaction volume. The Southeast Asian nation is more than doubling taxes on domestic crypto exchanges and imposing even higher rates on foreign platforms.
Tax Rates Jump Across the Board
Under the new framework announced by Indonesia’s Ministry of Finance, sellers using domestic crypto exchanges will pay 0.21% tax on…
