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Indonesia vs Jamaica

Crypto regulation comparison

← Back to map | Indonesia | Jamaica
Indonesia

Indonesia

Jamaica

Jamaica

Legal
No Regulation

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.

Jamaica has no specific cryptocurrency legislation. The Bank of Jamaica does not regulate or endorse crypto but has not banned it. Jamaica launched its own CBDC, JAM-DEX, in 2022 through the National Commercial Bank. Crypto exists in a legal gray area with no dedicated framework.

Tax Type Varies
Tax Type Unclear
Tax Rate 0.21% (domestic exchange) / 1% (foreign platform)
Tax Rate N/A
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator OJK (Otoritas Jasa Keuangan) since January 2025
Regulator BOJ (Bank of Jamaica), FSC
Stablecoin Rules Crypto traded as commodities; stablecoin-specific rules under development with OJK transition
Stablecoin Rules BOJ launched JAM-DEX CBDC; no private stablecoin regulation
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
  • No specific cryptocurrency legislation or regulatory framework
  • BOJ does not recognize crypto as legal tender but has not banned it
  • Jamaica launched the JAM-DEX CBDC in 2022
  • FSC Jamaica has not issued specific guidance on crypto asset regulation
  • Tax treatment of crypto gains is unclear due to lack of specific guidance
Sources
Sources