Blockchain
Crypto Asset Tax: Competitiveness and Industrial Growth in Indonesia

The crypto asset market, which previously experienced a high transaction volume, faced a significant decline in 2023. In this article, Asosiasi Blockchain Indonesia will review the causes of this shrinkage in depth, analyze the latest data, explore responses from business actors and government bodies, and underline the factors influencing the dynamics of the crypto asset market.
The Decrease in Crypto Asset Transactions and Its Causes
The decrease in crypto asset transactions has captured worldwide attention, fueling intense discussions within the market. Several issues, such as the collapse of FTX in 2022 and lawsuits from the U.S. Securities & Exchange Commission (SEC) against Binance and Coinbase. These issues are seen as catalysts for the diminishing consumer interest in crypto assets on a global scale, consequently leading to a notable decrease in transactions within the Indonesian market.
As known, the Bitcoin value in the global crypto market has once again been recorded at US$44k or around IDR 683 million, reaching its highest level for the first time since April 2022. Data from the Commodity Futures Trading Supervisory Agency (Bappebti) shows that the value of crypto asset transactions from January to November 2023 has reached IDR 122 trillion. Despite the rise in Bitcoin value, this figure indicates a significant decrease compared to the previous year, which reached IDR 306.4 trillion and is even much lower than the peak period in 2021, which reached IDR 859.4 trillion. The question remains: What factors caused the decrease in transaction volume?
Various complex factors contribute to this decline. “The reason is that the peak period has passed, interest has waned, and the real sector at that time was not yet thriving due to the pandemic”, said Hasan Fawzi, Chief Executive Supervisor of the Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets Sector, and concurrently Member of the OJK Board of Commissioners. According to CNBC Indonesia, OJK explained that high tax rates were one of the causes behind the decline in crypto asset transaction volume.
Crypto Asset Tax
Since May 2022, every crypto transaction in Indonesia has been subject to a Value Added Tax (VAT) of 0.11% of the transaction value for exchanges registered with Bappebti and an Income Tax (PPh) of 0.1%. Let’s explore how crypto asset transaction costs compare between registered and unregistered exchanges under Bappebti. Here’s an illustration:
Comparison of Crypto Asset Transaction Fees |
|
Registered Exchanges under Bappebti |
Unregistered under Bappebti |
Total commission per transaction |
Total transaction costs (including tax): 0.00% – 0.1% |
*This is an example of a general overview of transaction fees – each exchange can have a different percentage
The data above shows a significant difference in the total transaction costs on registered exchanges, which tend to be higher. When designing tax policies for crypto assets, it is crucial to consider the overall impact on the industry’s growth.
In response to this challenge, Daniel Sukamto, CEO of digitalexchange.id, expressed, “It is hoped that there will be an adjustment to tax rates that will not burden the users”. Oscar Darmawan, CEO of Indodax, also added, “This is to ensure that users can make transactions more freely without feeling burdened”. This effort is anticipated to positively stimulate the increased tax revenues, as users will likely conduct more transactions on officially registered crypto asset industry platforms in Indonesia.
Implementing taxes on crypto assets positively impacts the industry, as a significant contributor to the Indonesian economy. Moreover, this will create transparency and support the industry’s sustainability at the national level. “With the implementation of more competitive and cooperative tax policies, it is hoped that this will result in more increased transactions,” said Robby, Chairman of the Indonesian Blockchain & Crypto Asset Traders Association (A-B-I & Aspakrindo).
Solutions for Crypto Asset Tax
In addition to adjusting tax rates, the Association hopes to have the opportunity to discuss with the Directorate General of Taxes (DJP) to provide an overview and find mutually beneficial solutions to ensure the crypto industry’s growth in Indonesia and optimize tax revenues. Yudhono Rawis, CEO of Tokocrypto, conveyed several examples of concrete solutions, including:
- Adjusting crypto asset tax rates to make transaction fees more competitive for customers on registered exchanges.
- Implementing a tax amnesty program for taxpayers with crypto assets abroad to increase crypto tax revenues in Indonesia.
Not only that, Asih Karnengsih, Executive Director of A-B-I & Aspakrindo, also presented several other solutions:
- As Law No. 4 of 2023 concerning Strengthening and Development of the Financial Sector (UU PPSK) classifies crypto assets as digital financial assets, there could be an exemption from VAT collection. This aligns with Law No. 7 of 2021 concerning Harmonization of Tax Regulations (UU HPP) and Law No. 42 of 2009 (VAT Law), where financial services are exempted from VAT collection.
- Enforcing tax implementation for unregistered exchanges in Indonesia, as regulated in the Minister of Finance Regulation (PMK) Number 68 of 2022, with a VAT rate of 0.22% and Income Tax (PPh) of 0.2%. This aims to encourage domestic customers to transact on registered exchanges.
Apart from Taxes, How to Encourage the Increased Crypto Transactions?
Bappebti also highlighted their views and solutions regarding the decline in crypto asset transaction volume due to implementing the crypto asset tax. In response, Bappebti will coordinate with the Directorate General of Taxes (DJP) to implement equal treatment in the tax collection for customers who transact on unregistered exchanges.
Not only that, Bappebti said that other initiatives are being pursued to encourage an increase in crypto transactions, such as the establishment of Self-Regulatory Organizations and expanding the services offered by exchanges, such as staking, the development of crypto assets in the form of futures products, evaluate and improve the regulations related to crypto assets, including simplifying the Analytical Hierarchy Process (AHP) method for selecting crypto assets that can be traded in Indonesia. This aims to stimulate an increase in the quantity of types of crypto assets that can be traded without reducing current assessment standards. Kasan, Acting Head of Bappebti, emphasized, “With a more varied selection of crypto asset options, it is hoped to boost public interest.”
The Association has also initiated many discussion forums between business actors and the government, to ensure that the implemented regulations can support the needs and development of the industry. The topics revolve around consumer protection and the competitiveness of domestic business actors. For the initiative, Mobee’s COO & CFO, Methodius Anwir, hopes policymakers can prioritize global insight in drafting regulations to create a competitive industry. This way, all parties can share the same vision in overcoming challenges and creating new opportunities for the sustainable growth of the crypto asset industry.
SOURCE Asosiasi Blockchain Indonesia
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Blockchain
Bitget Blockchain4Youth sostiene l’innovazione del Web3 e dell’IA all’hackathon “Build with AI” di Google Developer Group

Bitget, società Web3 e uno dei principali exchange di criptovalute, ha ottenuto un riscontro significativo in occasione del recente hackathon “Build with AI”, tenutosi dal 2 al 5 maggio 2025 presso la Constructor University. Spingendosi oltre la semplice sponsorizzazione, l’iniziativa Blockchain4Youth di Bitget ha coinvolto attivamente più di 130 studenti di talento.
L’evento, organizzato dai Google Developer Groups (GDG) on Campus, ha offerto a Bitget uno spazio dinamico per entrare in contatto diretto con gli innovatori tecnologici di nuova generazione. Nel corso di una presentazione dedicata, è stato introdotto il programma Blockchain4Youth Builder, che mostra l’impegno di Bitget nel formare giovani talenti all’interno dello spazio del Web3. Questa partecipazione evidenzia l’approccio lungimirante di Bitget nell’integrare la formazione in materia di blockchain con i settori emergenti come l’IA, riconoscendo il loro potenziale combinato.
Gli studenti hanno lavorato alla creazione di modelli basati sull’IA e di prodotti in fase iniziale utilizzando gli strumenti avanzati di Google, mentre la presenza di Bitget ha offerto una prospettiva unica su come la blockchain possa migliorare ed essere integrata nelle soluzioni di IA. Questa interazione con il mondo reale ha fornito preziose indicazioni agli studenti, colmando il gap tra conoscenze teoriche e applicazione pratica all’interno del panorama tecnologico in rapida evoluzione.
“La formazione rimane un principio fondamentale della nostra missione e, attraverso iniziative come Blockchain4Youth, intendiamo fornire alle nuove generazioni le competenze necessarie non solo per esplorare, ma anche per plasmare attivamente questo settore dinamico”, ha commentato Vugar Usi Zade, COO di Bitget. “Collaborare con comunità come il Google Developer Group offre una base preziosa per connettersi con talenti di spicco e aiutarli nel percorso di utilizzo della blockchain per creare soluzioni di impatto. Blockchain4Youth continuerà a espandere la sua portata, favorendo la crescita dei futuri leader del Web3 in grado di cogliere le numerose opportunità offerte da questa tecnologia”.
Il coinvolgimento mostrato all’hackathon “Build with AI” di GDG è un elemento chiave del più ampio programma Blockchain4Youth di Bitget, l’iniziativa aziendale dedicata alla Responsabilità Sociale d’Impresa (RSI). Questo programma mira a favorire la prossima generazione di leader Web3 attraverso opportunità formative ed esperienze pratiche.
Tra le iniziative più recenti del programma Blockchain4Youth c’è il lancio del Graduate Program di Bitget, concepito per reclutare i migliori laureati nel settore blockchain e Web3. Inoltre, l’espansione del programma Bitget Builders continua a fornire agli individui più promettenti del Web3 un’esperienza diretta attraverso gli eventi offline, i programmi formativi e la crescita strategica della community.
A proposito di Bitget
Fondata nel 2018, Bitget è una società Web3 tra i principali exchange di criptovalute al mondo. Con oltre 100 milioni di utenti in più di 150 Paesi e aree geografiche, l’exchange Bitget si impegna ad aiutare gli utenti a fare trading in modo più smart con la sua pionieristica funzione di copy trading e altre soluzioni di trading.
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Blockchain
India’s Fintech Market to Reach $990 Billion by 2032 at 30.2% CAGR – Fintech Firms Eye Untapped Indian Digital Payments Market with Secure, Low-Cost Digital Financial Solutions
Blockchain
Blocks & Headlines: Today in Blockchain – May 9, 2025 | Robinhood, Solana, Tether, China, Women in Web3

Today’s blockchain landscape pulses with innovation, expansion and strategic jockeying. From established trading platforms laying the groundwork for international tokenized US asset markets to fresh efforts empowering women in Web3, the industry is evolving at frantic pace. Solana-based tokenization pathways, China’s state-driven blockchain masterplan and Tether’s push onto new Layer-1 rails further underscore diversification. In this daily op-ed, we unpack five major developments—examining what they mean for DeFi growth, NFT marketplaces, regulatory contours and the ongoing quest for greater inclusivity in crypto.
1. Robinhood’s European Blockchain Trading Ambitions
News Summary
Robinhood Markets Inc. is reportedly constructing its own blockchain infrastructure to facilitate trading of U.S. equities and other assets in European markets. Insiders suggest the project seeks to leverage distributed-ledger technology for settlement efficiency, near-real-time clearing and reduced reliance on legacy central counterparties. The move signals Robinhood’s ambition to transcend its domestic brokerage roots and capture European retail and institutional order flow.
Key Details
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Infrastructure Build: A private, permissioned ledger governed by Robinhood and selected counterparties.
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Asset Scope: U.S. equities, ETFs and potentially tokenized debt instruments.
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Regulatory Interface: Engagements with the U.K. Financial Conduct Authority (FCA) and European Securities and Markets Authority (ESMA) to align on custody and market-making rules.
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Timeline: Internal pilots slated for Q4 2025, with public rollout in mid-2026.
Analysis & Opinion
Robinhood’s pivot underscores a broader industry trend: exchanges and brokerages striving to “own the rails” rather than simply interface with existing clearinghouses. By internalizing settlement on a bespoke blockchain, Robinhood hopes to slash settlement times from T+2 to near-instant, a boon for liquidity providers and high-frequency traders. However, risks include the complexity of cross-border regulatory compliance and the operational challenge of maintaining robust on-chain and off-chain reconciliations.
From a DeFi convergence standpoint, Robinhood’s ledger could bridge traditional and decentralized finance, enabling tokenized margin lending and programmable corporate actions directly on-chain. Should Robinhood open permission to DeFi protocols, we may witness new hybrid liquidity pools that blend CEX order books with AMM liquidity. This would mark a milestone in mainstream DeFi adoption—and potentially pressure incumbents like Nasdaq to innovate their own on-chain settlement layers.
Source: Bloomberg
2. Women in Web3: Cultivating Greater Gender Diversity
News Summary
A recent deep-dive from Cointelegraph spotlights the persistent gender gap in blockchain and crypto. Despite Web3’s ethos of decentralization, women represent less than 20 percent of crypto investors and under 10 percent of core development teams. The article outlines initiatives—from targeted grants and incubation programs to mentorship networks—aimed at lowering barriers and attracting more female talent.
Key Details
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Current Statistics: Women account for approximately 17 percent of crypto traders globally; in development, the share dips below 8 percent.
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Notable Initiatives:
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Women in Blockchain Fund: USD 50 million allocated for early-stage female founders.
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Global Web3 Sisters Network: Mentorship platform pairing novices with veteran executives.
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University Partnerships: Scholarships for women studying blockchain engineering and cryptography.
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Analysis & Opinion
Web3’s promise of equal-opportunity innovation rings hollow if half the population remains sidelined. Heightened grant funding and mentorship can help, but systemic change requires cultural shifts within DAOs, core teams and investor circles. Projects and protocols must adopt policies—like blind code reviews, diversity hiring quotas and inclusive governance frameworks—to ensure sustainable participation.
Moreover, as the industry grapples with regulatory scrutiny, diverse leadership can foster better risk management and community trust. Women leaders have often been at the forefront of compliance, ethics and consumer protection—even in traditional finance—qualities sorely needed in crypto’s maturing phase. Token projects that embed gender-diverse advisory boards may see stronger reputational profiles and wider community buy-in.
Source: Cointelegraph
3. SOL Strategies: Tokenizing Shares on Solana
News Summary
SOL Strategies, a financial-services startup, is exploring a pathway to tokenize private and publicly traded shares on the Solana blockchain. Their recently filed whitepaper proposes a framework where equity is represented as SPL tokens, enabling fractional ownership, 24/7 trading and programmable dividend distributions.
Key Details
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Token Standard: Extension of Solana Program Library (SPL) with “Equity Token” schema.
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Custody Model: Licensed custodian holds underlying shares; token holders have legal claim via smart-contract link.
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Compliance Layer: On-chain KYC/AML middleware to restrict token transfers to approved wallets.
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Pilot Partners: Early engagements with two mid-cap European tech firms eyeing capital-raising via tokenization.
Analysis & Opinion
Tokenized equity stands to revolutionize capital markets by lowering minimum investment thresholds and unlocking global liquidity. On Solana, with its sub-second finality and low fees, fractional shares could trade seamlessly—outpacing Ethereum’s scalability challenges. Yet the critical hurdle lies in regulatory acceptance: will securities regulators view these tokens as bona fide equity or as unregistered securities?
SOL Strategies’ integrated custody approach could mollify regulators, replicating existing T+2 standards while enabling T+0 settlement on-chain. Should they secure regulatory sandbox approvals in the U.K. or Singapore, other blockchains—like Stellar and Polkadot—may race to develop similar tokenization toolkits. For DeFi protocols, tokenized equities could become collateral in lending pools, further intertwining traditional and decentralized finance.
Source: Newsfile Corp.
4. China’s Blockchain Playbook: Infrastructure, Influence & New Frontiers
News Summary
The Center for Strategic and International Studies (CSIS) published an extensive analysis of China’s state-driven blockchain strategy. Beyond its digital yuan rollout, Beijing is investing in cross-border infrastructure, influencing global standards bodies and forging Belt and Road blockchain corridors across Asia, Africa and Latin America.
Key Details
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Key Initiatives:
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BSN 2.0: Blueprint for national and international consortium chains.
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International Standards: Active lobbying in ISO/TC 307 for governance models favoring state-actors.
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Tech Diplomacy: Blockchain MOUs with Pakistan, Indonesia and several African union members.
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Strategic Goals: Extend digital yuan acceptance, export Chinese ledger tech, shape global governance.
Analysis & Opinion
China’s multi-pronged approach signals blockchain’s emergence as a theater of geopolitical competition. By undercutting SWIFT dependency and offering turnkey consortium-chain solutions, Beijing enhances its financial influence in Belt and Road countries. Western governments and multinationals must navigate this blockchain bifurcation—between open public rails and permissioned state-backed consortia.
For crypto projects, the CSIS report offers both caution and opportunity. While the digital yuan may corner state-aligned corridors, decentralized networks remain resilient by design. Projects focusing on interoperability—such as Polkadot bridges and Cosmos IBC—can link fragmented chains and preserve open value transfer. Investors should monitor on-chain metrics in emerging markets, as Chinese-backed consortium chains gain traction in cross-border trade finance.
Source: CSIS
5. Tether Expands Stablecoin Reach to 196 Million Users via Kaia
News Summary
Tether has launched USDT on the Kaia blockchain, bringing its flagship stablecoin to Kaia’s user base of approximately 196 million. Kaia, a burgeoning Layer-1 optimized for high-throughput mobile applications, opens new corridors for USDT in gaming, remittances and micro-trading in emerging markets.
Key Details
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Technical Integration: USDT issued as a native Kaia token, supported by Tether’s reserve-backing audit framework.
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User Impact: Near-zero fees for micro-transactions; sub-second confirmation times even on mobile networks.
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Partnership Scope: Integration with Kaia’s wallet SDK and gaming marketplace; joint launch of an educational DApp for fiat-on-ramp literacy.
Analysis & Opinion
By deploying on Kaia, Tether diversifies its blockchain footprint beyond Ethereum, Tron and Solana, underscoring a multi-chain thesis for stablecoin ubiquity. Emerging-market users—often plagued by volatile local currencies—stand to benefit immensely from a mobile-first, low-cost remittance rail. Moreover, Kaia’s developer incentives may spawn DeFi lending dApps collateralized by USDT, fueling localized credit markets.
Yet healthy competition among blockchains for stablecoin volume could concentrate risk: reserve transparency, network stability and regulatory compliance will differentiate winners. Tether’s public attestations and reserve audits are critical, but as US regulators intensify scrutiny on stablecoin giants, projects deploying on smaller chains may face fresh legal complexities around money-transmission licensing.
Source: Bitcoin.com
Conclusion & Key Takeaways
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Institutional On-ramp Acceleration: Robinhood’s European chain signals major brokerages view blockchain as core infrastructure—not mere gadget.
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Inclusivity Imperative: Women’s underrepresentation remains a blindspot; targeted grants and cultural reforms are needed for equal Web3 participation.
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Tokenization Tide: Solana’s high-speed rails may host the next wave of equity tokens, bridging capital markets and DeFi.
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Geopolitical Battlegrounds: China’s consortium chains and digital-yuan corridors illustrate how blockchain is reshaping global influence.
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Stablecoin Multichain Strategy: Tether’s Kaia integration reflects the logic of diversifying rails to reach underserved, mobile-first users.
As blockchain advances, the interplay between technological innovation, regulatory frameworks and social inclusion will define whether the next chapter of crypto fulfills its vision of open, equitable finance—or replicates old hierarchies in digital garb. Today’s headlines underscore that the path forward lies in cross-chain interoperability, proactive policy-shaping, and a relentless focus on broadening the community that stewards and benefits from these transformative networks.
The post Blocks & Headlines: Today in Blockchain – May 9, 2025 | Robinhood, Solana, Tether, China, Women in Web3 appeared first on News, Events, Advertising Options.
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