2024

Cryptocurrency

United

Karma

A majority of crypto users in Indonesia are age 30 and below, according to September data released by the country’s commodities regulator.
Data <a data-ct-non-breakable="null" href="https://www.kompas.id/baca/ekonomi/2024/10/28/meski-berisiko-tinggi-kalangan-muda-minati-aset-kripto" rel="null" target="null" text="null" title="null">from</a> the Commodity Futures Trading Regulatory Agency (Bappebti) and local crypto platforms in Indonesia showed that over 60% of crypto investors in the country are 18 to 30 years old. The report said 26.9% are 18 to 24, while 35.1% are 25 to 30.&nbsp;
Bappebti also reported that the total volume of September crypto asset transactions reached 33.7 trillion Indonesian rupiah, about $2.1 billion, and the number of crypto users in Indonesia was 21.3 million. 
The agency also noted that Indonesians primarily traded Tether’s USDt (<a data-ct-non-breakable="null" href="https://cointelegraph.com/tether-price-index" rel="null" target="null" text="null" title="null">USDT</a>), Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="null">ETH</a>), Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>), Pepe (<a data-ct-non-breakable="null" href="https://cointelegraph.com/pepe-price-index" rel="null" target="null" text="null" title="null">PEPE</a>) and Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="null" target="null" text="null" title="null">SOL</a>).&nbsp;
<h2 id="crypto-regulations-in-indonesia">Crypto regulations in Indonesia</h2>
In Indonesia, crypto assets are <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/crypto-regulations-in-indonesia" rel="null" target="null" text="null" title="null">officially recognized</a> as commodities, which means Bappebti has established a framework for crypto trading. Still, crypto users in Indonesia face challenges from the country’s dual tax system for crypto transactions.&nbsp;
Indonesians continue to use digital assets despite the dual taxation. In 2022, Indonesia implemented a 0.11% value-added tax and a 0.1% capital gains <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/indonesia-to-impose-0-1-crypto-tax-starting-in-may-report" rel="" target="_self" text="null" title="https://cointelegraph.com/news/indonesia-to-impose-0-1-crypto-tax-starting-in-may-report">tax on crypto transactions</a>. 
Bappebti has urged the government to reassess its taxation rules for crypto. On March 2, executive staff at Bappebti <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/indonesia-crypto-tax-bappebti-report" rel="null" target="null" text="null" title="null">requested a reassessment of the tax regime</a>. Tirta Karma Senjaya, head of the Bureau of Market Development at Bappebti, said crypto may soon become an integral part of the country’s economy.&nbsp;
“Because later on, cryptocurrencies will become part of the financial sector, we expect a commitment from the Directorate General of Taxes to evaluate these taxes,” Senjaya said.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/indonesian-postal-service-launches-nft-stamps" rel="null" target="null" text="null" title="null">Indonesian postal service launches NFT stamps</a>
<h2 id="crypto-attracts-the-younger-generation">Crypto attracts the younger generation</h2>
The demographics of crypto users in Indonesia reflect a broader trend worldwide. In the United States, a survey done by Policygenius showed that 20% of Gen Z adults (ages 18–26) and 22% of millennials (ages 27–42) are <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/generation-z-and-millennials-choose-crypto-over-stocks-report" rel="null" target="null" text="null" title="null">more likely to invest in crypto assets</a> than older generations.&nbsp;
<figure>
 <img alt="Over 60% of crypto investors in Indonesia are under 30" src="https://s3.cointelegraph.com/uploads/2024-10/0192d746-b92b-7332-b54b-ae37b5712ca1" title="">
 <figcaption style="text-align: center;">
 Cryptocurrency ownership by age group in adult Americans. Source: Policygenius
 </figcaption>
</figure>
In 2023, a Bitget study featuring 255,000 respondents in 26 countries <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/46-of-millennials-across-major-economies-own-crypto-bitget-research" rel="null" target="null" text="null" title="null">showed that 46% of millennials</a> across major economies own cryptocurrencies.&nbsp;
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bali-indonesia-crypto-digital-nomad-remote-work-cointelegraph-magazine/" rel="null" target="null" text="null" title="null">Become a Bali crypto digital nomad like me: Here’s how</a>

Over 60% of crypto investors in Indonesia are under 30

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Cointelegraph

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