Indonesia Strengthens Its Position as a Major Player in the Global Crypto Industry

Illustration of crypto assets (photo: Unsplash)

JAKARTA - According to the latest report from Chainalysis, the level of crypto adoption in Indonesia in 2022 is still ranked 20th, but has now jumped sharply to 7th position in a relatively short time.

In this case, Indonesia in Southeast Asia is one of the countries that is often referred to as one that is experiencing the most dynamic development of crypto assets in the world.

Tokocrypto CEO, Yudhono Rawis, sees this increase as clear evidence of the growth of crypto assets in Indonesia which is still moving in a better direction, even though the market is currently sluggish.

According to him, one of the factors driving crypto adoption in Indonesia is easy access to education and information, which increases public understanding of blockchain and crypto technology.

"Apart from that, the rapid growth of the digital economy, including e-commerce and fintech, has also opened the door for crypto as a means of payment and investment," said Yudho in a statement received in Jakarta.

Increasingly clear regulations and the government's understanding of crypto have also helped increase public trust.

"When governments provide clearer guidance on how crypto will be regulated, this can reduce uncertainty and encourage more people to engage in the crypto ecosystem with confidence," he added.

Because according to Yudho, clear regulations are the main foundation for building a strong crypto ecosystem in Indonesia.

Indonesia has also made history as the first country to have a complete crypto trading ecosystem, including investors, physical crypto asset traders, exchanges, depositories and clearing.

Yudho hopes that with this infrastructure, crypto trading volume will continue to increase, bringing a positive impact to national economic growth.