Indonesian Cryptocurrency Market Surges: 60% are Young Adults Aged 18-30, with Trading Volume Reaching $27.1 Billion This Year

Currently, over 60% of cryptocurrency investors in Indonesia are aged between 18 and 30, indicating that the young population is driving the growth of the crypto market in Indonesia. The Indonesian government is also actively strengthening regulations to ensure the investments and transactions of the younger generation are protected. The cryptocurrency trading volume in Indonesia reached $27.1 billion by September this year, showing a significant increase of 351.97% compared to last year.

Youth Driving Indonesia's Cryptocurrency Market Growth

According to Indonesia's Commodity Futures Trading Regulatory Agency, Bappebti, more than 60% of cryptocurrency investors in Indonesia are aged between 18 and 30. Among them, 26.9% are aged 18 to 24, while 35.1% are aged 25 to 30. Cryptocurrency investment is becoming increasingly popular among Indonesian young people, with a growing interest in digital assets.

Enhanced Financial Planning Awareness Among Indonesian Youth

According to a report, 38% of millennials and 41% of Gen Z in Indonesia prioritize financial planning, with savings and investments being key considerations. Additionally, 32% of millennials and 26% of Gen Z allocate a portion of their income specifically for investments, demonstrating the importance Indonesian youth place on financial planning and investment.

Surge in Indonesia's Cryptocurrency Trading Volume: Approximately $27.1 Billion This Year, Up 351.97%

According to Indonesia's Financial Services Authority, the cryptocurrency trading volume in Indonesia reached 33.67 trillion Indonesian rupiah, 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 amounted to 426.69 trillion Indonesian rupiah, around $27.1 billion, marking a significant increase of 351.97% from 2023.

Continued Progress in Indonesia's Cryptocurrency Regulation

In recent years, the number of young cryptocurrency investors in Indonesia has been on the rise, prompting regulatory authorities to strengthen oversight to ensure a secure investment environment. Bappebti has extended the compliance deadline for local cryptocurrency exchanges to apply for a Physical Crypto Asset Trader (PFAK) license until the end of November 2024, as part of efforts to safeguard the market and investors.

This extension is the third revision based on Indonesia's Regulation No. 9 of 2024, as Bappebti continues to adjust regulatory frameworks to adapt to the evolving cryptocurrency market since 2021.

Combatting Cryptocurrency Scams and Enhancing International Cooperation

To combat cryptocurrency fraud, Indonesia's Bappebti collaborates with Binance's Financial Intelligence Unit (FIU) and Indonesian exchange Tokocrypto, working together with Indonesia's Criminal Investigation Bureau (Bareskrim) to crack down on criminal activities and recover approximately $200,000 worth of cryptocurrency assets, showcasing Indonesia's proactive stance in protecting cryptocurrency investors.

Indonesia announces the launch of state-owned cryptocurrency exchanges and clearinghouses.