Cuba vs Indonesia
Crypto regulation comparison
Cuba
Indonesia
Cuba's Central Bank issued Resolution 215/2021 recognizing virtual assets and establishing a licensing framework for virtual asset service providers (VASPs). The BCC evaluates and grants one-year licenses to VASPs. US sanctions limit access to international platforms but domestic crypto use is formally regulated.
Cryptocurrency is legal in Indonesia and classified as a commodity (not currency). Bappebti regulated crypto since 2019, but authority transitioned to OJK (Financial Services Authority) in January 2025. Under PMK 50/2025 (effective August 2025), crypto transactions incur a 0.21% final income tax via domestic exchanges (1% via foreign platforms). VAT on crypto transfers was abolished as crypto was reclassified as digital financial assets.
Key Points
- Resolution 215 (2021) allows central bank to license virtual asset service providers
- Central Bank licenses virtual asset service providers under Resolution 215
- VASPs must comply with AML/KYC requirements and report to the central bank
- US sanctions significantly limit access to international crypto platforms
- Government agencies may not use virtual assets without BCC authorization
Key Points
- Crypto regulated by OJK since January 2025, transitioned from Bappebti
- 0.21% final income tax on (PPh Art. 22) crypto transaction value for sales per PMK 50/2025
- VAT abolished under PMK 50/2025; reclassified as digital financial assets
- Only crypto assets approved and listed by Bappebti can be traded on licensed exchanges
- Indonesia launched a national crypto exchange (Bursa Kripto Indonesia) in 2023