Lightelligence IPO Soars Over 400% in Hong Kong Debut Amid Rising AI Investment Demand 
Apple Q2 2026 Earnings Surge as iPhone 17 Sales Drive Record Revenue 
Taiwan Activates Backup Communications After Undersea Cable Break on Dongyin Island 
Bitcoin Coils Near $77,000: Short Squeeze Potential Grows Amid Geopolitical Fog 
U.S. Demand for Alternative Satellite Providers Remains Strong Amid SpaceX Regulatory Push 
Advantest Stock Falls on Weak Outlook Despite Strong AI-Driven Results 
TSMC Exits Arm Holdings with $231 Million Share Sale Amid Strategic Portfolio Shift 
FxWirePro- Major Crypto levels and bias summary 
DeepSeek Slashes AI Model Pricing to Boost Adoption and Challenge Global Rivals 
Ethereum Under Pressure: ETHUSD Tests Critical Support as Market Momentum Fades 
Pershing Square Raises $5 Billion in Landmark U.S. IPO and Share Placement 
Why Paycom Was Named a 2026 Platinum Employer on the Where You Work Matters List 
Nippon Express Stock Jumps as Elliott Investment Signals Strong Foreign Interest in Japan Logistics Sector 
Seagate Stock Surges After Strong Q3 Earnings Beat and Bullish Outlook 
U.S. Cybersecurity Pushes Faster Patch Deadlines Amid Rising AI-Driven Threats 
Indonesia's cryptocurrency market witnessed a surge in transactions, climbing to 30 trillion Indonesian Rupiah ($1.92 billion) in February, according to the Commodity Futures Trading Supervisory Agency (Bappebti). This uptick is attributed to growing investor interest, with registered cryptocurrency users hitting 19 million, up by 170,000 from January.
Bappebti forecasts a rebound in 2024, aiming to surpass the $51.28 billion transaction volume of the previous bull run, buoyed by Bitcoin's rally and positive market sentiments. The agency also suggests potential changes in tax policies to further boost transaction volume.
Indonesia's Crypto Market Surges: Insights on Transaction Growth and Regulatory Projections
According to Indonesia's crypto regulator, crypto transactions increased by 30 trillion Indonesian Rupiah ($1.92 billion) in February, Coindesk reported.
According to the Commodity Futures Trading Supervisory Agency (Bappebti), the country's registered cryptocurrency investors reached 19 million last month, up 170,000 from January. Bappebti attributes this growth to positive market sentiments fueled by Bitcoin's (BTC) price increase and the rally in altcoins, or tokens other than Bitcoin.
The regulator still intends to match or exceed the transaction volume of $51.28 billion from 2021, the previous bull run, in 2024. Bappebti's Tirta Karma Senjaya stated that, given the downward trend in 2022 and 2023, a 2024 rebound was expected, with the upcoming Bitcoin halving as a key catalyst.
Taxation Impact on Crypto: Advocacy for Reduced Taxes and Regulatory Shifts Ahead
The best way to increase crypto transaction volume would be to eliminate or reduce cryptocurrency taxes. Crypto transactions are currently taxed at 0.10% for income tax and 0.11% for VAT on users, with exchanges taxed at 0.02% per transaction for the crypto bourse, depository, and clearing house.
“I’ve previously said that this industry (crypto) is still in its embryonic stage, so imposing heavy taxes might kill the industry,” Tirta stated at a Reku exchange event earlier.
The transfer of cryptocurrency oversight to the Financial Services Authority (OJK) in January 2025 could result in significant changes, such as reclassifying crypto as securities and revising VAT policies.
Photo: Microsoft Bing
