KEYTAKEAWAYS
- Indonesia's Cryptocurrency Trading Volume Reaches $40.2 Billion
- Indonesian Registered Crypto Users Exceed 22.1 Million
- Most Actively Traded Crypto Include USDT, BTC, DOGE, PEPE, SOL And XRP
- Binance-owned Tokocrypto Obtained Its Physical Crypto Asset Trader (PFAK) License
CONTENT
Indonesia’s Cryptocurrency Trading Volume Reaches $40.2 Billion. Indonesian Registered Crypto Users Exceed 22.1 Million. Most Actively Traded Crypto Include USDT, BTC, DOGE, PEPE, SOL And XRP. Binance-owned Tokocrypto Obtained Its Physical Crypto Asset Trader (PFAK) License.
INDONESIA’S CRYPTOCURRENCY TRADING VOLUME REACHES $40.2 BILLION
Indonesia’s cryptocurrency trading activity grew 335.9% in 2024, reaching 650.61 trillion rupiah ($40.2 billion). The Commodity Futures Trading Regulatory Agency (Bappebti) attributes this growth to increased user numbers and trading volume.
By November 2024, registered crypto users in Indonesia grew to 22.1 million. Bappebti head Tirta Karma Senjaya notes increased public confidence in crypto trading and expects user base to exceed 25 million soon.
Most actively traded cryptocurrencies include USDT, BTC, DOGE, PEPE, SOL and XRP. Bappebti announced transfer of crypto regulation to Financial Services Authority (OJK) this year, while maintaining oversight of commodity futures trading.
INDONESIA ISSUES COMPLIANCE LICENSES TO CRYPTO EXCHANGES
Indonesia is developing crypto’s economic potential while protecting users through strict approval processes. Crypto assets are officially recognized as commodities, with Bappebti establishing trading frameworks.
Source: Binance
Three exchanges received Indonesian PFAK licenses: Tokocrypto, Indodax, and BitoX. Binance-owned Tokocrypto obtained its Physical Crypto Asset Trader (PFAK) license from Bappebti on September 9, 2024, becoming Indonesia’s third licensed exchange.
Indonesian crypto users face dual taxation: 0.11% VAT and 0.1% capital gains tax implemented in 2022. Despite this, digital asset usage continues. Bappebti urges government review of crypto tax rules. Market Development Director Tirta Karma Senjaya suggests crypto may soon become integral to the national economy.
INDONESIA BECOMES ONE OF THE HIGHEST CRYPTO ADOPTION REGIONS
According to Chainalysis’ Global Crypto Adoption Index, Oceania/Asia leads global crypto adoption, with Indonesia ranking 7th among top 10 countries.
Bappebti and local crypto platform data shows over 60% of Indonesian crypto investors are aged 18-30. September reports indicate 26.9% are 18-24 and 35.1% are 25-30.
Source: Tether
Tether is focusing on Indonesia’s market through crypto education initiatives. From September 2024 to March 2025, Tether partnered with local exchange Reku for educational roadshows across ten major cities, including Bali, Medan, Yogyakarta, Surabaya, Malang, Padang, Palembang, Pekanbaru, and Balikpapan, concluding in Jakarta. The program includes workshops, online courses, and local collaborations to teach digital currency benefits and applications.
Indonesia’s crypto market growth demonstrates its potential as a global crypto hub. With $40+ billion in annual trading volume, 22.1 million registered users, and ranking 7th globally in adoption, the market’s significance is clear. Despite dual taxation, investor enthusiasm remains strong, with young generations leading at over 60%.
Bappebti’s active regulation and industry support strengthen Indonesia’s crypto ecosystem. Companies like Tether drive market maturation through education and community engagement. With growing users, rising trading volumes, and evolving regulations, Indonesia’s global crypto presence continues to expand.
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