Indonesia’s Crypto Market Booms as Transactions Hit $1.92B in February

CoinDeskPolicy2024-03-17 tarihinde yayınlandı2024-03-18 tarihinde güncellendi

Özet

The country's registered crypto investors also surged to 19 million users last month.

The number of crypto investors surged to 19 million in February.
The country’s crypto regulator attributes this growth to positive market sentiments fueled by bitcoin's price surge and altcoin rallies.

6.6K

Indonesia reported a surge in crypto transactions, reaching Indonesian Rupiah 30 trillion ($1.92 billion) in February, the country's crypto regulator reported.

The number of registered crypto investors in the country also hit 19 million last month, marking an addition of 170,000 users from January, the Commodity Futures Trading Supervisory Agency (Bappebti) said.

Bappebti attributes this growth to positive market sentiments fueled by bitcoin’s (BTC) price surge and the rally in altcoin, tokens other than bitcoin.

The regulator still aims to match or exceed the transaction volume from 2021, the last bull run, of $51.28 billion, in 2024. Bappebti’s Tirta Karma Senjaya highlighted that, given the downward trend in 2022 and 2023, a 2024 rebound was anticipated, with the upcoming bitcoin halving seen as a key catalyst.

The best way to crypto transaction target would be to remove or reduce taxes on crypto. Currently, crypto transactions are taxed at 0.10% for Income Tax and 0.11% for VAT on users, and exchanges are taxed at 0.02% per transaction for the crypto bourse, depository, and clearing house.

“I’ve previously said that this industry (crypto) is still in its embryonic stage, so imposing heavy taxes might kill the industry,” Tirta stated at a Reku exchange event earlier.

STORY CONTINUES BELOW

Recommended for you:

The transfer of crypto oversight to the Financial Services Authority (OJK) in January 2025 could bring about significant changes, possibly reclassifying crypto as securities and revising VAT policies.

Edited by Parikshit Mishra.

İlgili Okumalar

Bitcoin Mining Company MARA Holdings Sold a Large Number of Bitcoins in the First Half of the Year! Here Are All the Details

Bitcoin mining company MARA Holdings, listed on Nasdaq, sold a substantial amount of Bitcoin in the first half of the year. According to analytics platform Lookonchain, the company sold 23,093 BTC in the first six months of 2026 for approximately $1.6 billion. Following these sales, MARA's Bitcoin reserves decreased significantly, though it still holds 35,577 BTC. The remaining holdings are valued at around $2.3 billion based on current market prices. As one of the largest publicly traded Bitcoin miners, MARA typically holds mined Bitcoin on its balance sheet and sells portions periodically based on market conditions and funding needs. The recent large-scale sale demonstrates the company's active treasury management. Decisions by major miners to sell are closely watched, as such actions can influence market supply, especially when done to cover operational costs during periods of price volatility. While the sale highlights MARA's focus on liquidity, its continued holding of a sizable Bitcoin reserve underscores the asset's ongoing importance on its corporate balance sheet. The company's future actions regarding its Bitcoin treasury will likely depend on factors like Bitcoin's price, mining costs, and cash requirements.

cryptonews.ru19 dk önce

Bitcoin Mining Company MARA Holdings Sold a Large Number of Bitcoins in the First Half of the Year! Here Are All the Details

cryptonews.ru19 dk önce

Bitcoin Red Team founder turns to Chinese AI: ‘It absolutely guts me’

A Bitcoin security researcher, Rob Hamilton, states he has been forced to revert to using open-source Chinese AI models after OpenAI restricted his access. As CEO of AnchorWatch, he had begun integrating OpenAI's tools into his work with the Bitcoin Red Team, a volunteer group scanning Bitcoin-related code for vulnerabilities. His access was cut off the next day, preventing further investigation. Hamilton expressed frustration, saying that while malicious actors face no such restrictions, those conducting security research for harm reduction are hindered. This incident highlights a broader concern in the crypto industry about limited access to powerful AI tools for defensive security purposes, with only a select few major players reportedly having obtained such access.

cointelegraph44 dk önce

Bitcoin Red Team founder turns to Chinese AI: ‘It absolutely guts me’

cointelegraph44 dk önce

Bitdeer increased Bitcoin mining output by nearly fivefold in Q2

Bitdeer's Bitcoin mining output surged nearly fivefold year-over-year in Q2 2026, producing 2,694 BTC compared to 565 BTC in the prior year. However, the company's Bitcoin holdings on its balance sheet fell 90% to 150 BTC, following a complete liquidation of its 943 BTC treasury in February, which it attributed to liquidity needs, not a departure from its core mining business. The company reported Q2 revenue of $228.8 million, a 47% increase, slightly exceeding Wall Street estimates. Self-mining revenue was $168.4 million, driven by a 389% jump in average hashrate. Despite the revenue growth, Bitdeer's net loss widened to $92.3 million from $62.9 million. Bitdeer is expanding beyond mining, notably signing a 16-year, $4.7 billion lease for AI computing capacity in Norway.

cointelegraph1 saat önce

Bitdeer increased Bitcoin mining output by nearly fivefold in Q2

cointelegraph1 saat önce

Stock Price Doubles Within the Year, Plummets 20% After Resumption, Baolai Medical's 'Chip Backdoor Listing' Script Ends

On August 10, 2026, BPL (300246.SZ) resumed trading after a nearly week-long suspension and immediately fell by a 20% limit-down. This plunge was triggered by the termination of a planned controlling stake transfer, dashing earlier market speculation. In January 2026, Zhejiang Quwei Zhihe Partnership entered as a significant shareholder, sparking hopes. Investors speculated that its backer, Weigu Information—a specialized "little giant" company in high-reliability solid-state storage chips—might be seeking a backdoor listing through BPL. This "cross-industry restructuring" expectation fueled a strong rally, with BPL's stock price more than doubling in 2026 prior to the halt. However, the deal was called off on August 7, directly causing the sharp sell-off. Underlying BPL's vulnerability is its fundamentally weak business. The company, a medical device firm, is mired in losses, having reported three consecutive years of net losses totaling over 200 million yuan. Its core hemodialysis business is squeezed by government procurement price cuts, while growth in its patient monitor segment has stalled. Furthermore, BPL faces imminent debt pressure with convertible bonds worth approximately 218 million yuan due in September 2026, and its current stock price is far below the conversion price. The failed control transfer may represent a delayed release of negative news, but BPL's core challenges remain: reversing operational losses and addressing its urgent liquidity crisis.

marsbit1 saat önce

Stock Price Doubles Within the Year, Plummets 20% After Resumption, Baolai Medical's 'Chip Backdoor Listing' Script Ends

marsbit1 saat önce

Standard Chartered Added Another Promising Altcoin to Its List and Shared a Growth Forecast! 'It Could Grow 25 Times!'

British banking giant Standard Chartered has added another altcoin to its list of promising assets with growth potential: Chainlink (LINK). The bank has set a $200 price target for LINK by the end of 2030, representing a potential 25-fold increase from its current price of around $8. Standard Chartered argues that the anticipated boom in asset tokenization will require reliable blockchain data, positioning Chainlink as critical infrastructure connecting blockchains with external data and financial systems. The bank forecasts the tokenized asset market could reach approximately $4 trillion by 2030. The analysis notes that Chainlink has expanded beyond oracles to include interoperability, compliance, and privacy features, making it a comprehensive platform for both decentralized (DeFi) and traditional finance (TradFi). Growing adoption by institutions like Swift, DTCC, JPMorgan, and Mastercard is cited as supporting its growth trajectory. The bank concludes these factors could drive LINK to its $2030 target.

cryptonews.ru1 saat önce

Standard Chartered Added Another Promising Altcoin to Its List and Shared a Growth Forecast! 'It Could Grow 25 Times!'

cryptonews.ru1 saat önce

İşlemler

Spot