Indonesia secured $6.97 million in cryptocurrency tax revenue during the first half of 2024, driven by increased investor adoption and regulatory enforcement efforts. Revenue growth reflects the expansion of digital asset activities among local traders.
Starting August 2024, the government increased tax rates on overseas crypto platforms to 1%, while maintaining a lower 0.5% levy for domestic exchanges. This policy aims to balance market competition, strengthen compliance, and address taxation disparities.
The adjustment targets improved revenue collection and fairer oversight of international platforms serving Indonesian users. Officials attribute the rising tax income to stricter regulatory implementation and the accelerating mainstream integration of cryptocurrencies.