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Youthful enthusiasm for cryptocurrency is surging in Indonesia, where a significant majority of crypto investors are under 30. Findings from the Commodity Futures Trading Regulatory Agency (Bappebti) highlight that 62% of the country’s 21.3 million crypto users fall within this age bracket. The zeal for digital currencies among these younger cohorts is underscored by a robust transaction volume reaching 33.7 trillion Indonesian rupiah ($2.1 billion) just in September.
Despite facing a dual tax system on crypto transactions, Indonesian millennials and Gen Zs continue to actively trade major digital assets like Bitcoin, Ether, and Tether, among others. This resilience is reflective of a global trend where younger demographics are increasingly drawn to crypto investments, outpacing older generations in places like the United States.
Recognizing the potential of digital currencies to become a staple in the financial sector, Bappebti has called for a reassessment of the prevailing tax policies. This move could foster a more conducive environment for the growth of crypto markets in Indonesia, aligning with the interests of its burgeoning investor base.
