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Indonesia’s Crypto Tax Revenue Skyrockets 181% Amid Market Volatility
Indonesia’s Crypto Tax Revenue Skyrockets 181% Amid Market Volatility
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BTCCSquare news:
Indonesia’s crypto tax revenue surged 181% in 2024, reaching 620 billion rupiah ($38 million), the highest since the tax was introduced in 2022. The growth reflects a booming local crypto market, with transaction volumes hitting 650 trillion rupiah ($39.67 billion) and user numbers surpassing 20 million—eclipsing stock market investors.
However, 2025 has seen a sharp decline, with only 115 billion rupiah ($6.97 million) collected as of July. Officials attribute the volatility to fluctuating crypto prices. "Crypto is a long-term investment," said Hestu Yoga Saksama of the Directorate General of Taxes. "Prices can spike or drop—it depends on market sentiment."
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