Emerging Indonesian Cryptocurrency Market 60 Dominated by 1830 YearOlds with Trading Volume of 271 Billion This Year
Young People Dominate the Growth of Indonesia’s Cryptocurrency Market
According to the Indonesian Commodity Futures Trading Regulatory Agency (Bappebti), currently over 60% of cryptocurrency investors in Indonesia are between the ages of 18 and 30. Of these investors, 26.9% are aged between 18 and 24, while 35.1% are aged between 25 and 30. This indicates that cryptocurrency investment is quite popular among the young generation in Indonesia, with an increasing interest in digital assets.
Increased Financial Planning Awareness among Indonesian Youth
According to a report, 38% of millennials and 41% of Gen Z prioritize financial planning, savings, and investments. Additionally, 32% of millennials and 26% of Gen Z specifically allocate a portion of their income for investments, highlighting the importance of financial planning and investment among Indonesian youth.
Massive Increase in Cryptocurrency Trading Volume in Indonesia: Reaching $27.1 Billion this Year, Up 351.97%
According to the Indonesian Financial Services Authority, the cryptocurrency trading volume in Indonesia reached 33.67 trillion Indonesian rupiahs (approximately $2.13 billion) in September 2024. Although there was a slight decrease compared to August, the total trading volume from January to September this year reached 426.69 trillion Indonesian rupiahs (approximately $27.1 billion), showing a staggering increase of 351.97% compared to 2023.
Continued Progress in Cryptocurrency Regulation in Indonesia
In recent years, the number of young cryptocurrency investors in Indonesia has been steadily increasing. The regulatory authorities in Indonesia have also enhanced their oversight to ensure a secure investment environment. The Bappebti has extended the compliance deadline for local cryptocurrency exchanges to obtain a Physical Cryptocurrency Asset Trading Business (PFAK) license until the end of November 2024, ensuring market integrity and investor protection. This extension is the result of the third revision of Indonesian Regulation No. 9 of 2024. Since 2021, the Bappebti has been consistently adjusting its regulatory framework to adapt to the development of the cryptocurrency market.
Combating Cryptocurrency Fraud and Strengthening International Cooperation
To combat cryptocurrency fraud, the Indonesian Bappebti has collaborated with Binance’s Financial Intelligence Unit (FIU) and Indonesian exchange Tokocrypto, working together with the Indonesian Criminal Investigation Bureau (Bareskrim) to crack down on criminal activities and recover approximately $200,000 worth of cryptocurrency assets. This demonstrates Indonesia’s proactive attitude in protecting cryptocurrency investors.
