Indonesia's cryptocurrency transactions exceed 30 billion USD by 2024

Cryptocurrency transactions in Indonesia have surpassed the 30 billion USD mark from January to October 2024, marking a 350% increase compared to the same period last year. This is the highest figure since the boom in 2021, when the market recorded total transactions reaching 54 billion USD. The Indonesian cryptocurrency market has experienced volatility in recent years, particularly due to the "double taxation" policy implemented since 2022, but the current recovery indicates strong growth and the number of traders is also increasing.

Currently, Indonesia ranks third in the Global Cryptocurrency Acceptance Index, behind India and Nigeria. The majority of investors, around 21 million people, are mainly aged between 18-30. Recent policy reforms, including the easing of restrictions on institutional investment, have also contributed to the recovery of this market.