Indonesia is considering taxing crypto trading to generate funds after the economic impact of the COVID-19 pandemic, Forkast reported.
- Indonesia is home to a number of local crypto investors, surpassing investors in traditional equities.
- The tax on crypto trading is seen to replenish Indonesia’s buffers and help in the economic recovery post-pandemic.
- Outside Indonesia, more and more investors are diving into the crypto space across the region.
- AAX Exchange COO Toya Zhang reported a surge in signups of crypto investors after Dogecoin was made available in April.
- Zhang said the latest users added to the platform are “newbie users” holding cash and trying to get into the market.
- Bitcoin was last trading at $55,836.01; Etherum at $4,250.50; and Dogecoin at $0.474724.