Officials are considering a tax on all cryptocurrency transactions in Indonesia.
Indonesia’s Commodity Futures Trade Regulatory Agency (known as Bappebti) is considering levying a tax on all cryptocurrency transactions taking place on regulated exchanges within the country.Currently, 13 cryptocurrency exchanges fall under Bappebti’s regulatory oversight, and the tax would be automatically applied by these platforms should it be approved, according to a report by the Phnom Penh Post.“It is currently [undergoing] internal review at Bappebti, then we will coordinate with the BKF,” said Sidharta Utama, head of Bappebti, adding that the actual tax rate had not yet been decided. The BKF refers to Indonesia’s Fiscal Policy Agency.Regulatory activity in Indonesia surged during the past six months as Bitcoin (BTC) and the wider cryptocurrency market soared to new all-time highs. In December 2020, Bappebti issued regulation re
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