While current President Joko Widodo's government had global plans for crypto issued in Indonesia, and even set up the world's first bourse for digital assets, the next leaders may not be as excited about the sector.
In 2022, Muhaimin advocated for taxing crypto transactions to boost state revenues. He also called for stricter regulation, including for the sector to be supervised by the Financial Services Authority (OJK). The OJK will indeed be taking over crypto supervision in 2025, but the industry is hoping that changeover could mean lesser tax burdens for crypto users and exchanges - something it says has been driving away traders.
Ganjar Pranowo and Mahfud MD, who hasn't talked about crypto during the campaign, praised the creativity of NFTs and emphasized the importance of paying taxes for the nation's well-being.
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