Indonesia aims to have its own cryptocurrency exchange by 2022
The intention, which was first expressed last year, was confirmed by the deputy trade minister of Indonesia. The government of Indonesia has resumed its effort to establish the digital asset market that was initially officially proposed in 2021. By the end of 2022, the so-called “crypto bourse” is expected to be operational. DealStreetAsia reports that […]
GoTo buys local crypto exchange for $8 million
Indonesian Tech company GoTo in a recent deal buys local crypto exchange PT Kripto Maksima Koin for $ 8 million in order to pursue a goal to become “a diverse money management hub.” In an effort to diversify its holdings, the Indonesian tech company PT GoTo Gojek Tokopedia Tbk (GoTo) purchased the local cryptocurrency exchange […]
Indonesia plans to impose 0.1% tax on crypto investments in May
The Indonesian government reportedly plans to implement a 0.1 percent tax on crypto investments as well as a value-added tax, or VAT, on digital asset transactions starting May 1. According to a Reuters story published on Friday, Hestu Yoga Saksama, a representative for Indonesia’s tax office, crypto assets will be subject to “income tax and […]
The Indonesian government confirms it is not imposing a ban on crypto
Indonesian Trade Minister Muhammad Luthfi has promised the public that the country will not ban cryptocurrency. Trading crypto will be permitted, but cryptocurrency purchases will be prohibited. The Indonesian government has given its citizen’s permission to trade cryptocurrencies , rather than simply prohibiting all crypto-related transactions. The government will concentrate its regulatory efforts on preventing crimes involving bitcoin. According to the Central Bank, cryptocurrencies are treated as trading assets and commodities that are inappropriate for payment. Crypto assets, […]
BREAKING: Bank of Indonesia rejoins central bank digital currency race
Back in 2017, after banning crypto transactions, Indonesia is ready to allow payments in a digital rupiah currency. The Bank of Indonesia has joined other global central banks to announce state digital currency plans amid a major spike in the country’s digital payments. Governor Perry Warjiyo on Tuesday said that Indonesia’s central bank is making […]