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How would the regulation of cryptocurrencies help the country?
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If we talk about Indonesia they are just implementing the tax system for crypto assets. They don't let using cryptocurrencies as currencies, they see it as a commodity. So they can take some piece of entire cake of crypto, but all advantages can be reached only with looser legislation.
But
just 0.1% of VAT and 0.1% on capital gains is rather soft tax system for crypto comparing with some other countries so I think Indonesia can attract some crypto investours with that.