OJK: Crypto Asset Transactions Worth IDR 301.75 Trillion In Semester I 2024

Illustration. (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) reported that the cumulative value of crypto asset transactions was IDR 301.75 trillion in the first semester of 2024, or grew 354.17 percent year on year (yoy) compared to IDR 66.44 trillion in the same period the previous year.

Meanwhile, 70 percent of the trading volume of crypto assets comes from members of PT Bursa Komoditi Nusantara (CFX), or the only regulated crypto exchange in Indonesia.

"The transaction value of crypto assets in the first semester of 2024 reached IDR 301.75 trillion, or grew 354.17 percent compared to the same period in the previous year," said OJK's Chief Executive Supervision of Financial Technology Innovation, Financial Assets, and Crypto Assets Hasan Fawzi at the OJK Board of Commissioners (RDKB) Meeting in Jakarta, quoted from Antara, Tuesday, August 6.

However, if you look at the last three months, the transaction value of crypto assets has continued to decline, including from Rp52.26 trillion in April 2024 to Rp49.8 trillion in May 2024 and to Rp40.85 trillion in June 2024.

Furthermore, the number of crypto asset investors in Indonesia was recorded at 20.24 million investors as of June 2024, or an increase compared to the previous month which was 19.75 million investors in May 2024.

Since its implementation, the Directorate General of Taxes at the Ministry of Finance noted that total crypto tax revenues reached IDR 798.84 billion as of June 2024, which came from IDR 246.45 billion in revenues in 2022, IDR 220.83 billion in receipts in 2023, and IDR 331.56 billion in 2024.

The crypto tax revenue consists of Rp376.13 billion in Income Tax (PPh) for crypto sales transactions on exchangers and Rp422.71 billion in VAT DN receipts for crypto purchase transactions on exchangers.