Indonesia explores taxing crypto profits amid a surge in popularity among locals

Indonesia explores taxing crypto profits amid a surge in popularity among locals
ilee@insider.com (Isabelle Lee)
© (hoto Illustration by Sheldon Cooper /SOPA Images/LightRocket via Getty Images
In this photo illustration the bitcoins are seen on display. (hoto Illustration by Sheldon Cooper /SOPA Images/LightRocket via Getty Images
Indonesia is looking to tax the trading cryptocurrencies, Reuters reported.
The country has banned cryptocurrencies as a method of payment but allows them to be traded as a commodity.
The trend is growing in Indonesia but, so far, not many people trade crypto.
Indonesia is looking to tax the trading cryptocurrencies, Reuters reported, as the Southeast Asian nation moves to temper the rising popularity of the digital asset space among its locals as well as shore up some state revenue following the devastating pandemic.

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