A majority of crypto users in Indonesia are age 30 and below, according to September data released by the country’s commodities regulator.
Data from the Commodity Futures Trading Regulatory Agency (Bappebti) and local crypto platforms in Indonesia showed that over 60% of crypto investors in the country are 18 to 30 years old. The report said 26.9% are 18 to 24, while 35.1% are 25 to 30.
Bappebti also reported that the total volume of September crypto asset transactions reached 33.7 trillion Indonesian rupiah, about $2.1 billion, and the number of crypto users in Indonesia was 21.3 million.
The agency also noted that Indonesians primarily traded Tether’s USDt (USDT), Ether (ETH), Bitcoin (BTC), Pepe (PEPE) and Solana (SOL).
Crypto regulations in Indonesia
In Indonesia, crypto assets are officially recognized as commodities, which means Bappebti has established a framework for crypto trading. Still, crypto users in Indonesia face challenges from the country’s dual tax system for crypto transactions.
Indonesians continue to use digital assets despite the dual taxation. In 2022, Indonesia implemented a 0.11% value-added tax and a 0.1% capital gains tax on crypto transactions.
Bappebti has urged the government to reassess its taxation rules for crypto. On March 2, executive staff at Bappebti requested a reassessment of the tax regime. Tirta Karma Senjaya, head of the Bureau of Market Development at Bappebti, said crypto may soon become an integral part of the country’s economy.
“Because later on, cryptocurrencies will become part of the financial sector, we expect a commitment from the Directorate General of Taxes to evaluate these taxes,” Senjaya said.
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Crypto attracts the younger generation
The demographics of crypto users in Indonesia reflect a broader trend worldwide. In the United States, a survey done by Policygenius showed that 20% of Gen Z adults (ages 18–26) and 22% of millennials (ages 27–42) are more likely to invest in crypto assets than older generations.
Cryptocurrency ownership by age group in adult Americans. Source: Policygenius
In 2023, a Bitget study featuring 255,000 respondents in 26 countries showed that 46% of millennials across major economies own cryptocurrencies.
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