JAKARTA - The Indonesian government through the Ministry of Finance has officially imposed Minister of Finance Regulation (PMK) No. 50 of 2025 since August 1, 2025. This regulation brings major changes to the tax scheme for crypto asset transactions, including the elimination of Value Added Tax (VAT) and the final tax tariff adjustment (PPh) which will take full effect starting the 2026 tax year.
Upbit Indonesia welcomes the presence of this policy as part of efforts to clarify the legal position of crypto assets which are now officially categorized as financial instruments, no longer as commodities.
"We welcome the Indonesian government's move to overhaul the crypto asset taxation scheme through the Minister of Finance Regulation (PMK) 50/2025, which is valid on August 1, 2025. This revision is a response to changes in the status of crypto assets which are now classified as financial instruments, no longer commodities," said Resna Raniadi, Chief Operating Officer (COO) of Upbit Indonesia, in a statement, Monday, August 11.
This aligned tax scheme is expected to create legal certainty, simplify compliance, and strengthen the national digital investment climate. But on the other hand, the increase in final income tax rates for domestic and foreign transactions, as well as tax adjustments to mining activities, are new challenges that need to be observed together," Resna continued.
Resna also added that the implementation of this policy requires proportional adaptation at the industry level.
"We continue to support regulations, only the implementation may have to be adjusted to the conditions in the field of each exchanger because the products offered may also be different," he said.
Furthermore, Upbit Indonesia also encourages the transition process to run inclusively and realistically.
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"We encourage the government to also consider an adequate incentive mechanism and transition period so that industry players have a realistic adjusting space. We encourage industry and regulator collaboration to continue to review the impact of this policy in a sustainable manner, as well as ensure transparency and tariff balance, so that Indonesia remains a competitive digital asset hub," he added.
As a licensed and supervised crypto asset trading platform by the OJK, Upbit Indonesia is committed to supporting the government in socializing and educating this policy.
"Upbit Indonesia is ready to support the socialization of this policy, provide education to the community and industry players, and actively participate in policy dialogue so that the Indonesian crypto ecosystem develops sustainably, safely, and transparently," concluded Resna.
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