Indonesian Election Could Shape Future of Crypto Regulation
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Current President Joko Widodo's administration has been actively supporting crypto growth in Indonesia, but the upcoming February elections could lead to policy changes depending on who wins.
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Some candidates like Anies Baswedan have been quiet on crypto, while others like running mate Gibran Rakabuming Raka strongly advocate digitization with blockchain and crypto.
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Candidate Ganjar Pranowo has praised NFTs, while his running mate Mahfud MD is a constitutional law expert.
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Leading candidate Prabowo Subianto has said his government will enhance supervision of tax compliance for crypto traders.
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The election outcomes will likely determine whether Indonesia continues its crypto-friendly stance or makes regulatory changes like increased taxes or oversight.