The cryptocurrency market throughout Indonesia has experienced extended turbulence in the wake of its 2021 high of approximately $54 billion. 2022 saw a significant decrease, largely attributed to the “dual taxation” policy implemented by the government, which saw a 0.1% tax added to crypto gains on top of standard gains taxes.
The Indonesian cryptocurrency market surpassed $30 billion in transactions for the period between January and October 2024, marking a 350% year-over-year increase and the highest total since the 2021 bull market.
https://cointelegraph.com/news/indonesia-cryptocurrency-transactions-cross-30-billion-2024
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