The Indonesian government plans to increase taxes on cryptocurrency transactions, which immediately starts from 1 August.
Summary
- Starting from August, Indonesia will increase its foreign exchange transactions from 0.2% to 1%. Meanwhile, domestic exchanges increase by 0.1%.
- Crypto buyers will no longer need to pay the value -added tax.
According to a Reuters report, a new Finance Ministry Regulation is set to shake the playground for the country’s budding location. For one thing, it will increase by applying to cryptocurrency transactions to 0.1%.
Starting from August 1, sellers of crypto asssts traded through domestic exchanges will have to pay 0.21% tax on transactions through exchange. Prior to the new financial regulation, the tax on crypto transactions was set to 0.11%.
The tax hike is even higher for exchanges located in Indonesia. While only 0.2% was presented only 0.2% for tax crypto transactions, the tax rate has now been increased to 1% for foreign firms, this has increased by 0.8% starting from August.
This means that exchanges such as binance, bitget, bybit, and others may have to reconsider their strategy if they want to maintain their Indonesian customers. Currently, Indonesian Crypto space always has homegrain exchanges such as Indodax, Tocoto, Pintu and more. Domestic exchange stands for benefits from changes in provision rules, slight increase in taxes.
On more positive notes, the crypto asset buyers will no longer want to pay the value -added tax or VAT. The new regulation applies VAT to customers, which was set over 0.11% to 0.22%.
However, the Indonesian government has also increased the VAT rate on talking about crypto mining. Under the new financial regulation, the VAT rate has given 1.1% to 2.2% for crypto miners starting on August this year.
High tax for the use of high crypto in Indonesia
The use of crypto is increasing in Indonesia. Curcinar for data from Financial Services Authority or OJK, the total amount of total transactions for crypto assets in the country increased to three times in 2024 compared to the previous year. In 2024, the transaction price for cryptocurrency exceeded $ 39.67 billion.
In fact, it is a docp that Indonesia has more crypto exchange users, as investors in the country’s stock market. Account for data from OJK, the number of Crypto traders in Indonesia reached 14,78 million people by May 2025.
In May 2025 alone, the total transaction volume for Crypto reached RP49.57 trillion ($ 3.02 billion), indicating an increase of 39.21% compared to the previous month.
OJK’s supervision technology innovation, digital financial assets and Crypto Assets Division, Hassan Fawzi, Chief Executive of Market Interest, especially in front of the flow in various global digital currencies.
“Consumers and Crypto assets have a growing trend, consumers have confidence and the National Crypto asset market has maintained well,” is.
