Indonesian Markets Seeing Boost in Bitcoin Use
Southeast Asia's emerging economy Indonesia is seeing a boost in the use of Bitcoin, E27 reports. The tech resource platform collected comments from some of the world's most renowned Bitcoin entrepreneurs to demonstrate the claim further. The first statement to come out was from Tiyo Triyanto, the founder of one of the Indonesia's leading Bitcoin exchange Bitdoku. He claimed that the Bitcoin's usage has been increasing impressively from year to year, despite the fact that the digital currency is an illegal tender in Indonesia. "Daily bitcoin circulation numbers in Indonesia have only....
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The Indonesian government has decided to tax capital gains income from crypto investments at 0.1% starting in May. In addition, value-added tax (VAT) of the same rate will be levied on crypto purchases.
Indonesia to Start Taxing Crypto Income at 0.1%
The Indonesian Directorate General of Taxes, the Ministry of Finance, has set income tax (PPh) on capital gains from crypto investments and value-added tax (VAT) on crypto purchases at 0.1%.
Hestu Yoga Saksama, director of tax regulations for the Ministry of Finance, told CNN Indonesia Friday:
That’s....
The Indonesian government is set to launch a crypto bourse by the end of this year, a high-ranking government official reportedly revealed. “We will make sure that every requirement, procedure, and the necessary steps have been taken,” he emphasized.
Crypto Bourse Coming Soon in Indonesia
The Indonesian government is planning to launch a crypto bourse by year-end, Dealstreetasia reported Wednesday, citing Indonesia’s Deputy Trade Minister Jerry Sambuaga.
Speaking on the sidelines of NXC International Summit 2022 by WIR Group in Bali, the trade....
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A prominent e-commerce and digital payment platform in Indonesia, KinerjaPay Corp., has enabled bitcoin payments for transactions on its platform. This will be the first time that an e-commerce portal in Indonesia allows for bitcoin transactions on its platform. Users of KinjeraPay Corp., an Indonesian e-commerce platform will now be able to settle transactions on the marketplace with bitcoin. In an announcement today, the Indonesian marketplace revealed a partnership with Bitcoin Indonesia, a digital currency exchange that enables buying and selling bitcoin with the local fiat currency –....
The Indonesian cryptocurrency industry and market experienced notable growth in 2021. In 2021, the number of global crypto holders has been estimated to have increased by 3.9% to more than 300 million crypto users worldwide, with more than 18,000 businesses already accepting cryptocurrencies as payment. India is currently in the lead with 100 million users, followed by the United States with 27 million users and Russia with 17 million users.According to data from Triple A, Indonesia has the seventh-largest crypto user base, below Brazil and Pakistan. It is estimated that there are 7.2....