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Indonesia vs Iceland

Crypto regulation comparison

← Back to map | Indonesia | Iceland
Indonesia

Indonesia

Iceland

Iceland

Legal
Legal

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.

Cryptocurrency is legal in Iceland and subject to a 22% capital gains tax. Iceland is a major crypto mining destination due to abundant geothermal and hydroelectric energy. As an EEA member, Iceland follows EU financial regulations including MiCA through EEA incorporation.

Tax Type Varies
Tax Type Capital gains
Tax Rate 0.21% (domestic exchange) / 1% (foreign platform)
Tax Rate 22%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator OJK (Otoritas Jasa Keuangan) since January 2025
Regulator FME (Fjármálaeftirlitið / Financial Supervisory Authority), Central Bank of Iceland
Stablecoin Rules Crypto traded as commodities; stablecoin-specific rules under development with OJK transition
Stablecoin Rules No specific stablecoin regulation; follows EEA guidelines
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
Key Points
  • 22% capital gains tax on crypto profits
  • Iceland is one of the world's largest crypto mining locations due to cheap renewable energy
  • FME supervises crypto businesses under AML/KYC regulations
  • As an EEA member, Iceland incorporates EU financial regulations including MiCA
  • Capital controls (imposed 2008-2017) originally complicated crypto usage but have been lifted
Sources
Sources