According to Chainalysis in terms of the adoption of cryptocurrencies, Indonesia is in third position, but India remains the topper of the list for the 2nd consecutive year. It should be noted that around 8% of Indonesia residents have digital assets. Currently …
According to Chainalysis in terms of the adoption of cryptocurrencies, Indonesia is in third position, but India remains the topper of the list for the 2nd consecutive year. It should be noted that around 8% of Indonesia residents have digital assets.
Currently, the Indonesia cryptocurrency market is in the transitional phase, and experts argue that the changing position of regulators and government to the crypto will probably help it become the leader of crypto in Asia.
According to recent reports, the Islamic part, the official part of the HAQQ network has obtained the approval stamp, but it has already shed light on the local Indonesian cryptography market.
After the development, the co-founder of Haqq Network, Mohammed Alkaff Alhashmi said: “If I succeed in Indonesia and my protocol is accepted, I will be around the world. If my blockchain, my play or my intelligent contracts are mainly adopted in Indonesia, which is the largest Muslim country in the world. I will have no helmet to enter other Muslim countries. ”.
To obtain a first place in Asia, Indonesia must go beyond India, which was the leader of all nations in terms of cryptocurrency adoption worldwide.
Indonesia by looking at a larger place in the cryptography market
In accordance with the data available, the total number of cryptocurrency users in Indonesia was 9.9 million in 2021 and the number reached 28.43 million in 2024 and should reach a new height in the near future.
About 48% of adults in Indonesia hold cryptocurrencies, and the crowded curiosity of digital assets is due to the growing popularity of cryptos like Bitcoin, Ethereum, Dogecoin, XRP and USDT.
By introducing license requirements for cryptocurrency exchanges and launching its own scholarship in July 2023, the Indonesian government also took action to regulate the market.
A number of factors, such as the country’s juvenile investor base, better political measures and the growing penetration of smartphones, contribute to the expansion cryptocurrency market for Indonesia. Indonesia should play a more important role in the global cryptocurrency market as long as the government continues to support and regulate the sector.
The share of decentralized trade transactions exceeded the global average at 43.6%. To improve the protection of investors, the Indonesian government has reclassified cryptocurrencies as digital financial agents and has given the Financial Services Authority Authority.
With cryptocurrency transactions volumes reaching heights of all time and establishing new standards for the adoption of digital assets in Southeast Asia, the Indonesian cryptography market shows solid growth in the global arena.
