Indonesia’s Upcoming General Elections and Potential Impact on Crypto Industry

Indonesia’s general elections in February could bring changes to the country’s crypto industry, depending on the outcome. Current President Joko Widodo’s government has shown interest in crypto, with plans for digital asset regulations and the world’s first crypto bourse. However, opposition candidates Anies Baswedan and Muhaimin Iskandar, who plan to overhaul existing policies, may bring different perspectives. Muhaimin has advocated for taxing crypto transactions and stricter regulations. Another candidate pair, Ganjar Pranowo and Mahfud MD, has not addressed crypto prominently, but Ganjar praised NFT creativity in 2022. The most crypto-vocal candidate is Gibran Rakabuming Raka, the son of President Widodo, advocating for blockchain and crypto experts to enhance Indonesia’s tech sector. The outcome of the elections, set to begin on Feb. 14, could influence the regulatory landscape for the crypto industry in Indonesia. (Source: Coindesk)