Crypto Tax Will Be Overhauled, Tokocrypto: Time To Align With Shares

The Ministry of Finance (Kemenkeu) is preparing strategic steps to expand its taxation scheme on crypto assets. If previously taxes were only imposed when cryptocurrencies were categorized as commodities, in the future the government would start to point to grouping crypto as a financial instrument.

Tokocrypto CEO Calvin Kizana views the move as an adaptive effort relevant to the development of the digital financial ecosystem today. According to him, crypto is no longer only traded as an asset, but has developed into a complex investment instrument, including derivative products.

"This approach move is important to create legal certainty in the digital asset sector. Crypto is no longer just digital merchandise, but part of the financial system that must be comprehensively monitored," Calvin said in a written statement, Sunday, July 27.

He added that this new policy plan is in line with the transfer of crypto asset supervision from the Commodity Futures Trading Supervisory Agency (CoFTRA) to the Financial Services Authority (OJK) which has been in effect since early 2025.

"Supervision by OJK opens the way for more holistic regulations, as well as provides a legal basis for cryptocurrencies to be treated as financial instruments," he added.

Currently, the government is still implementing the tax provisions for crypto transactions based on the Minister of Finance Regulation (PMK) Number 68/PMK.03/2022, which imposes Value Added Tax (VAT) and Income Tax (PPh) Article 22 on each transaction. This provision applies as long as crypto is still classified as a digital commodity.

During the first quarter of 2025, state revenues from crypto transaction taxes were recorded at IDR 1.21 trillion, reflecting the high public participation in these digital assets.

However, with a new clustering plan, Calvin said there is an open possibility of new types of taxes relevant to the financial services sector. This includes crypto-based structured investment activities, digital asset portfolio management, and derivative services.

"We fully support the steps taken by the Ministry of Finance to adjust tax regulations with today's reality. This will provide clarity for business actors and investors, as well as an important foundation to encourage innovation in the digital financial sector," he said.

He added that the imposition of taxes on crypto should also consider aspects of equal treatment with instruments in the capital market.

"We have submitted input to the Ministry of Finance so that crypto tax treatment can be aligned with stocks. If stock transactions are subject to a lighter final tax, then crypto should be the same way. This is important to maintain the competitiveness of the national crypto industry in the midst of global competition," said Calvin.

According to him, a fair and proportional tax approach will create a healthier business climate and encourage the growth of the digital asset ecosystem in Indonesia.