Indonesia will launch state bitcoin-biru

By the end of the year Indonesia will take a platform for cryptocurrency trading. According to the deputy minister of trade, Jerry Sambuag, the initiative is aimed at protecting investors in conditions of growing interest in digital assets, writes Dealstreetasia.

Initially, they were going to launch a crypto -country in 2021, but the project was postponed.

Sambuag explained the decision with scrupulousness in the preparation of all processes – selection and verification of participants for compliance with the requirements.

According to the local BAPPEBTI regulator, by June the number of cryptocurrency users in the country reached 15.1 million people. The turnover of digital assets for 2021 amounted to 859.4 trillion rupees ($ 57.6 billion).

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CEO Tokocrypto (one of the 25 regulated platforms in the country) Pang Hue Kai called the project a catalyst for the Indonesian cryptoekosystem. He expects the growth of investors, including among institutions.

Earlier, Jump Capital experts included Indonesia among the most promising jurisdictions for cryptocurrencies.

Recall that from May 1, VAT is charged in the country with operations with crypto actures and income tax from the growth of capital from such investments at a rate of 0.1% in both cases.

The legislation equates digital currencies with exchange goods, but prohibits using them as a payment means.

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