Here's Tokocrypto's Response Regarding The Impact Of 12 Percent VAT On Crypto Assets

Illustration of VAT increase (photo: IDX)

JAKARTA - Data from the Commodity Futures Trading Supervisory Agency (CoFTRA) shows that from January to November 2024, the value of crypto asset transactions reached IDR 556.53 trillion.

This increase in transactions is in line with the growth in the number of crypto asset customers. Where until November 2024, CoFTRA recorded that the number of subscribers was recorded at 22.1 million people.

With impressive transaction growth and regulatory support that continues to be strengthened, the future of the crypto industry in Indonesia looks bright. Crypto industry players in the country are optimistic that the value of crypto asset transactions will continue to increase in 2025.

However, how did the perpetrators in the crypto asset industry react to the impact of PMK 131/2024 and 81/2024 regarding the increase in VAT 12 percent?

Commenting on the increase in VAT, Tokocrypto's CMO, Wan Iqbal, said he was optimistic that despite changes in regulations, crypto transactions would continue to develop in the future.

"The implementation of this VAT may affect transaction costs, but with continued interest in the crypto market, as well as optimism regarding the potential increase in the crypto market by 2025," Iqbal said in a statement.

Despite the adjustment of costs, he still believes that Indonesia's crypto market prospects remain bright along with industry growth and increased public awareness of the potential for crypto investment.

Talking about the future of the digital asset industry, projected crypto transactions by 2025 show promising growth potential. Various factors, such as market dynamics, regulatory policies, and blockchain technology adoption, are important pillars that drive this development.

"We are optimistic that there will be a significant increase in investor participation, both from individuals and institutions, along with increased awareness of potential investment in digital assets," he concluded.