Bank of Indonesia bank has turned its focus to studying the benefits of a digital currency, as well as the knock-on effect on payment systems and the wider monetary system. , while addressing issues around the readiness of the financial infrastructure currently in place.
Bank of Indonesia joins central bank digital currency race After banning crypto payments back in 2017, Indonesia is looking to allow payments in a digital rupiah currency. 6440 Total views News
The Bank of Indonesia is one of the latest global central banks to announce state digital currency plans amid a major spike in the country’s digital payments.
Governor Perry Warjiyo said Tuesday that Indonesia’s central bank is planning to launch a digital rupiah currency as a legal payment instrument in Indonesia, Reuters reports.
The official noted that the rupiah is the only legally accepted currency for payment in the country so far, and BI will be looking to regulate a digital rupiah the same way it regulates cash and card-based transactions.
Indonesian regulators consider tax on cryptocurrency transactions Officials are considering a tax on all cryptocurrency transactions in Indonesia. 5050 Total views News
Indonesia s Commodity Futures Trade Regulatory Agency (known as Bappebti) is considering levying a tax on all cryptocurrency transactions taking place on regulated exchanges within the country.
Currently, 13 cryptocurrency exchanges fall under Bappebti’s regulatory oversight, and the tax would be automatically applied by these platforms should it be approved, according to a report by the Phnom Penh Post.
“It is currently [undergoing] internal review at Bappebti, then we will coordinate with the BKF,” said Sidharta Utama, head of Bappebti, adding that the actual tax rate had not yet been decided. The BKF refers to Indonesia’s Fiscal Policy Agency.
Indonesian Regulators plan to introduce taxes on crypto transactions
Last Updated: 27 April 2021
Regulators in Indonesia are considering imposing taxes on all cryptocurrency transactions carried out in the country. The taxation will be done on regulated exchanges.
The Commodity Futures Trade Regulatory Agency in Indonesia, also known as Bappebti, is considering introducing a tax levy charged on all cryptocurrency transactions in the country. The tax will be deducted on transactions occurring on regulated exchanges in the country.
Currently, Indonesia has 13 crypto exchanges regulated by Bappebti. If the proposed law is approved, the tax would automatically be deducted from the exchange. This development is according to a publication written by Phnom Penh Post.
Indonesia futures regulator mulls crypto transaction tax phnompenhpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from phnompenhpost.com Daily Mail and Mail on Sunday newspapers.