Indonesia wins as crypto development center

Jakarta, – Today’s cryptocurrency news will review the evolution of the world of crypto assets that has been growing so far.

In Indonesia, the growing number of investors reflects that this digital currency asset is having a positive impact on the investment world.

Recently, Indonesia has been favored as a hub for cryptocurrency development in Southeast Asia. For more details, let’s take a look at today’s crypto news review.

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Indonesia wins as crypto development center in Southeast Asia

Indonesia is preferred as a cryptocurrency development center in Southeast Asia.

Head of the Indonesian Asset Dealers Association (Aspakrindo) Teguh Kurniawan Harmanda said he is optimistic that Indonesia has the potential to become a hub for cryptocurrency and blockchain development in Southeast Asia.

“The massive and potential increase in cryptocurrency users can lead to better management of the industry. Therefore, we need the support of various stakeholders to advance the crypto industry in the country,” said Tejoh Kurniawan Harmanda, who is commonly called Manda, citing Friday (9/9) 9/2022).

He also endorsed the head of the Indonesian People’s Consultative Assembly and head of the Law Enforcement Agency, Defense and Security Relations of the Indonesian Chamber of Commerce, Bambang Soesatyo aka Bamsoet, who said that Indonesia could become a global hub for cryptocurrencies, especially in the Southeast Asian region.

Crypto development can be improved through infrastructure development and overall regulation and supervision, for example by establishing the Digital Future Exchange as an official cryptocurrency exchange.

“These crypto assets have great potential in the digital ecosystem. Cryptocurrency transactions are also taxed. If we look at the number of transactions, we can see how much contribution can be made to the state,” Manda said.

Number of Crypto Investors According to CoFTRA Data – Cryptocurrency News Today

According to data from the Commodity Futures Trading Supervision Agency, or CoFTRA, as of July 2022, Indonesia had more than 15.57 million crypto investors as of July 2022 with a transaction value of IDR 232.4 trillion in crypto-asset trading at the same time.

Investing companies are sure to use this potential to invest in local crypto or blockchain developers.

Today's Crypto News

According to Finder, Indonesian Crypto Investors Reaches 29.8 Million – Crypto News Today

Meanwhile, the results of a survey conducted by Finder Crypto Improvement in 26 countries in August 2022 showed that the ownership of Indonesian crypto assets reached 29.8 million at 16% or above the global average of 15%.

In terms of numbers, domestic crypto investors can still continue to grow, despite the crypto winter. The figure is currently still over 4 percent of the total population of around 270 million Indonesians. “It could be improved,” Manda said again. Hacking encryption by prioritizing comprehensiveness.”

In addition, Bitcoin (BTC) is the most widely held crypto asset by Indonesian investors, with a share of 28 percent. It is followed by Dogecoin at 23 percent and Ethereum at 22 percent, while the remaining 27 percent own crypto assets other than the three types.

release rollCurrently, the Indonesian government is one of the countries that already has regulations on crypto-assets, head of the Commodity Futures Trade Development and Development Office (CoFTRA), Tirta Sinjaya, said.

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In fact, according to him, the regulations are better than other countries.

“Indonesia is one of the countries that has regulations regarding crypto-asset transactions, such as regulations, taxes, anti-money laundering, travel rules, and CBDCs, even later in relation to stablecoins,” Tirta said in a statement. Coinfest Asia.

He went on, for now, the government has also properly regulated the cryptocurrency trading system, clearing, custodianship, and soon formed a cryptocurrency exchange.

All these rules are intended to protect consumers. And we continue to supplement, evaluate and add various conditions to protect consumers.”

Country Extra Income – Cryptocurrency News Today

On the other hand, the rapid growth of the number of cryptocurrency investors is also affecting the state’s income, also known as taxation.

Currently, the government has received IDR 48 billion from activities related to crypto assets, both in the form of income tax (PPh) and value-added tax (VAT) since it came into effect on May 1, 2022 until the end of June 2022.

In detail, up to Rs 23.08 billion of PPh 22 came for crypto-asset transactions through local PPMSE and self-deposits. It comes from the local value-added tax (VAT) collected by non-trustees at Rs 25.11 crore.

This is the review about cryptocurrency news today. We hope this information is useful to you.

Read also: Cryptocurrencies that are expected to rise, and the opportunities are promising as you know

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Author: Contributor / Shuhada Banji A

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