👉👉👉 Why Indonesia’s Upcoming Elections Could Make or Break the Country’s Vibrant #Crypto Sec

Indonesia's upcoming general elections in February could usher in changes for the #cryptocurrency industry, potentially impacting the government's stance on #digitalassets . While the current administration, led by President Joko Widodo, has demonstrated interest in crypto, the next leaders may not share the same enthusiasm. Leading candidates offer clues about their positions on the crypto sector.

Presidential and vice-presidential candidates Anies Baswedan and Muhaimin Iskandar, representing the opposition, have not been very vocal on crypto matters. However, Muhaimin has previously advocated for taxing crypto transactions to boost state revenues and called for stricter regulation, including supervision by the Financial Services Authority (OJK), a move set for 2025. The industry hopes this changeover could alleviate tax burdens.

Another candidate pair, Ganjar Pranowo and Mahfud MD, has not addressed crypto during the campaign. In 2022, Ganjar praised non-fungible tokens (#NFTs ) for their creativity, emphasizing the importance of paying taxes. The most crypto-supportive candidate appears to be Gibran Rakabuming Raka, running with Defense Minister Prabowo Subianto. Raka, a strong proponent of digitization, has expressed interest in preparing blockchain and crypto experts to enhance Indonesia's tech sector.

Prabowo, emphasizing tax compliance, intends to enhance supervision of tax compliance among stock and crypto traders to combat evasion. The outcome of the elections, set to begin on February 14, will shape the regulatory landscape for the crypto industry in Indonesia.

Source - coindesk.com

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