The value of Indonesian crypto transactions will reach IDR 30 trillion in February 2024

Tokocrypto CEO, Yudhono Rawis, welcomed this development positively and stated that the growth of the crypto market in Indonesia reflects the increasing trust of the public in this digital asset.

“The increase in public interest and participation in the crypto market shows that understanding of the potential for crypto investment is growing in Indonesia. The growth in the number of new investors in Indonesia, which shows the significant addition of new investors every month, is also a driving factor in transaction value,” said Yudho.

Yudho also explained that efforts to continue to increase the growth of the crypto industry in Indonesia had been carried out by various parties, including associations, Bappebti, the Financial Services Authority (OJK), and others.

“The transfer of crypto supervision to the OJK in January 2025 is expected to bring significant changes, such as the possibility of reclassifying crypto as securities and revising the Value Added Tax (VAT) policy,” explained Yudho.