Indonesia's crypto market transactions reach $1.92B in February, with 19M registered users and a projected rebound in 2024.

Indonesia's cryptocurrency market experienced a surge in transactions reaching $1.92B in February, with 19M registered users, up by 170K from January. Bappebti anticipates a rebound in 2024, aiming to surpass 2021's transaction volume. Reducing or eliminating crypto taxes may further boost transaction volume, while the Financial Services Authority (OJK) plans to reclassify cryptocurrencies as securities and revise VAT policies starting in January 2025.

March 18, 2024
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