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New phenomena related to cryptocurrency have emerged, leading to an increase in the number of cryptocurrency investors in Indonesia. As of January 2024, there were 18.83 million investors, up from 16.7 million at the end of 2022.
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Also read: From Money Laundering to Ponzi Fraud, Crypto Exchanges Fall on the Legal Table
The Indonesian government is working on a plan to reduce taxes on crypto assets to strengthen the crypto product ecosystem.