The Number Of Crypto Transactions In Indonesia Increases In February 2024

Illustration of crypto assets. (photo: Unsplash)

JAKARTA - The latest data from the Commodity Futures Trading Supervisory Agency (CoFTRA) states that the number of crypto trading transactions in Indonesia until February 2024 will reach IDR 30 trillion.

This amount indicates a significant increase of 39 percent compared to the previous period which reached IDR 21.57 trillion in January.

According to Tokocrypto CEO Yudhono Rawis, increasing public interest and participation in the crypto market shows that an understanding of the potential for crypto investment is growing.

"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," Yudho said on Thursday, March 21.

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

"The transfer of crypto surveillance to OJK in January 2025 is expected to bring significant changes, such as the possibility of re-classifying crypto as a security and revising the Value Added Tax (VAT) policy," he said further.

Because according to Yudho, this can provide legal certainty and encourage the growth of the crypto industry in Indonesia.