Interest in cryptocurrencies has been on the increase in Indonesia, as proven through data issued by the Ministry of Trade confirming that the number of transactions involving the use of cryptocurrencies such as Bitcoin expanded over 14 times from Rp. 60 trillion to Rp. 859 trillion between 2020 and 2021. Although crypto assets are prohibited from being used as payment instruments in Indonesia, companies are nevertheless permitted to trade crypto assets. [1] This trade is officially regulated by the Commodity Futures Trading Supervisory Agency through the application of several regulations, including Regulation No. 8 of 2021 on the Guidelines for the Organization of Physical Crypto-Asset Market Trading Through the Futures Exchange. [2]
Trading of Crypto Assets Subject to PPN and PPh from May 2022
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