Indonesia has achieved a new milestone in cryptocurrency transactions, reaching over 475 trillion Indonesian rupiah (around $30 billion). The country's crypto regulator, Bappebti, reported a significant growth in the cryptocurrency market, with transactions increasing by 352% compared to the same period last year. However, the total transactions for this year are still below the target of $54 billion. Indonesia has also seen a rise in the number of crypto traders, with 21 million people involved in the market. The country has been recognized as one of the fastest adopters of cryptocurrencies, alongside India and Nigeria. The Financial Service Authority plans to regulate the crypto sector starting from January 12, 2024. Altcoins like Solana and Ethereum, as well as stablecoin Tether and Bitcoin, dominate the Indonesian crypto market. The young generation in Indonesia, particularly those aged between 18 and 30, represents 60% of crypto investors in the country.



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