Indonesia's Cryptocurrency Transaction Volume to Grow by 335.9% in 2024, Surpassing $40 Billion

BlockBeats News, January 26th, cryptocurrency trading activity in Indonesia surged by 335.9% in 2024, reaching 650.61 trillion Indonesian Rupiah (US$40.2 billion). The Commodity Futures Trading Regulatory Agency (Bappebti) attributed this growth to the increase in the number of users and trading volume.

As of November 2024, the registered cryptocurrency user count has grown to 22.1 million. Bappebti official Tirta Karma Senjaya pointed out that public confidence in cryptocurrency trading has increased, expressing optimism that the user base will soon surpass 25 million.

The most active cryptocurrencies in trading in Indonesia include USDT, BTC, DOGE, PEPE, and XRP. To streamline regulation, Bappebti announced that its role in cryptocurrency oversight will be transferred to the Financial Services Authority (OJK) this year, while still maintaining regulatory authority over commodity futures trading. (Bitcoin.com)