Business · Companies · 7 mins ago
Indonesia Says Crypto Is Not Money but Can Still Be Taxed
Indonesia's Deputy Finance Minister Nurkholisoh Ibnu Aman said crypto is an asset, not money.
Only the rupiah is legal tender in Indonesia, while the Financial Services Authority oversees crypto trading and the Finance Ministry sets tax rules.
Income or profits from crypto can still be taxed, just as earnings from renting out a house or selling a motorbike at a profit can be.
Ibnu said clear rules and distinct responsibilities help people understand their obligations and protect consumers.
Indonesia has adopted an OECD framework for sharing crypto tax information between countries.
The first exchange is planned for 2027, and Ibnu said it will require accurate data, secure systems and cooperation among Indonesian agencies and the OECD.
Indonesia’s deputy finance minister said crypto is not money or a legal means of payment, but it remains an asset that can be taxed.
Nurkholisoh Ibnu Aman said only the rupiah is recognized as money in Indonesia.
She said the rules for payments, crypto trading oversight and taxation are separate responsibilities that should work together.
Since 1 August 2025, crypto trading has been exempt from value-added tax and subject to a final 0.21% income tax.
Indonesia has adopted an OECD framework for exchanging crypto-asset tax information, with its first exchange planned for 2027.
- Who
- Deputy Finance Minister Nurkholisoh Ibnu Aman.
- What
- She said crypto is not money in Indonesia but remains an asset that can be taxed.
- When
- She made the remarks on 15 October 2026.
- Where
- At an international seminar on taxes, the digital economy and cryptoassets in Indonesia.
- Why
- She said the status of an asset as a means of payment is separate from its tax treatment, and that crypto can generate taxable income or gains.
This story does not have two clearly opposing sides.
Responsibility for regulating and supervising digital financial assets, including crypto, transferred from Bappebti to the OJK.
New rules took effect, removing VAT on crypto trades and applying a final 0.21% income tax.
Nurkholisoh Ibnu Aman spoke at an international seminar on taxes, the digital economy and cryptoassets.
Indonesia’s first exchange of crypto-asset information through CARF is planned.
- Legal tender
- Only the rupiah is recognized as money in Indonesia.
- Crypto oversight
- The OJK supervises crypto as a financial asset.
- Tax on crypto trades
- Final income tax of 0.21% from 1 August 2025; no VAT on the trades.
- Regulatory transfer
- Bappebti to OJK, effective 10 January 2025.
- Planned information exchange
- First CARF exchange in 2027.
2 sources
What people are saying
For payment matters, I am sure we all agree that only the rupiah can be used in Indonesia.
Crypto assets are the same: even though they are not money, crypto assets remain an asset.
These three rules are different, but complement one another. They must work together.
Indonesia has adopted the Crypto-Asset Reporting Framework (CARF) from the OECD. This framework allows tax authorities to share information across borders, and our first exchange will take place in 2027.