Indonesia to impose 0.1% crypto tax starting in May: Report

[newshunter]

Indonesia to impose 0.1% crypto tax starting in May: Report

The government is still reportedly considering how to implement crypto taxes, but legislation passed in response to the pandemic laid the groundwork.

Source: Indonesia to impose 0.1% crypto tax starting in May: Report

Would appreciate your opinion about this

[TomPluz]

I am not privy to the full details of this development in Indonesia but I am looking at it as a good signal that the government is not going to make cryptocurrency business illegal just like what happened in China. Certainly, if the government is looking at an industry where they can be able to generate more tax revenues then crypto is the one for them. And that means that it should be legalized because imposing tax on something that is illegal can be stupid thing to do. May this can be the start for the formal rise of the crypto industry in the big Indonesian market.