According to data published by Indonesia’s commodities regulator in September, a majority of cryptocurrency users in the country are aged 30 and below.
The Commodity Futures Trading Regulatory Agency (Bappebti) and local crypto platforms in Indonesia have revealed that over 60% of crypto investors in the country are between the ages of 18 and 30. The September report showed that 26.9% of investors were aged 18 to 24, while 35.1% were aged 25 to 30.
In addition to the demographic breakdown, Bappebti reported that the total volume of crypto asset transactions in Indonesia reached 33.67 trillion Indonesian rupiah, equivalent to approximately $2.1 billion. The number of crypto users in the country reached 21.27 million in September.
The agency also noted that the most commonly traded cryptocurrencies in Indonesia were Tether’s USDt (USDT), Ether (ETH), Bitcoin (BTC), Pepe (PEPE), and Solana (SOL).
Regarding crypto regulations in Indonesia, crypto assets are officially recognized as commodities, and Bappebti has established a structured framework for crypto trading. However, crypto users in the country face challenges due to the dual tax system for crypto transactions.
Despite the dual taxation, Indonesians continue to utilize digital assets. In 2022, the country implemented a 0.11% value-added tax and a 0.1% capital gains tax on crypto transactions.
Nevertheless, Bappebti has called for the government to reevaluate its taxation rules for cryptocurrencies. On March 2, the executive staff at Bappebti requested a reassessment of the tax regime in Indonesia. Tirta Karma Senjaya, the head of the Bureau of Market Development and Development at Bappebti, explained that crypto is expected to become an integral part of the country’s economy.
The demographics of crypto users in Indonesia mirror a global trend. In the United States, a survey conducted by Policygenius found that 20% of Gen Z adults (ages 18–26) and 22% of millennials (ages 27–42) are more likely to invest in cryptocurrencies compared to older generations.
A Bitget study in 2023, which surveyed 255,000 respondents across 26 countries, showed that 46% of millennials in major economies own cryptocurrencies.