JAKARTA. The high demand from the public for crypto trading has catapulted transactions to reach IDR 370 trillion in the 5 months ending at the end of May 2021. The Minister of Trade also assessed that crypto assets will become important players in the downstream digital economy.
The soaring transaction value is in line with the increasing growth of crypto asset players who have now reached 6.5 million people compared to 4 million recorded in 2020.
Trade Minister Muhammad Lutfi further said that crypto assets will be downstream of the digital economy, especially if it is supported by other related infrastructures such as 5G networks, internet of things (IOT) and others that have been widely used in Indonesia's digital economy.
"We have to realize, like it or not and want it or not, the Ministry of Trade must see this section as an opportunity," he explained in the online discussion on Managing Crypto Asset Fever, Thursday (17/06/2021)
This is proven by the growth that has occurred where as of May 2021 crypto transactions have reached IDR370 trillion, while in 2020 it is only around IDR65 trillion. The Ministry of Trade and related agencies will also continue to draft regulations that are in line with the development of the crypto asset market. (AM/LM)