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Indonesia vs El Salvador

Crypto regulation comparison

← Back to map | Indonesia | El Salvador
Indonesia

Indonesia

El Salvador

El Salvador

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.

El Salvador made history in September 2021 by becoming the first country to adopt Bitcoin as legal tender through the Bitcoin Law. However, under a January 2025 IMF agreement (Decreto 199), El Salvador amended the law to make Bitcoin acceptance by businesses voluntary rather than mandatory, and repealed several articles. There is no capital gains tax on Bitcoin. The CNAD regulates digital assets.

Tax Type Varies
Tax Type No tax
Tax Rate 0.21% (domestic exchange) / 1% (foreign platform)
Tax Rate 0%
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator OJK (Otoritas Jasa Keuangan) since January 2025
Regulator BCR (Banco Central de Reserva), CNAD (Comisión Nacional de Activos Digitales)
Stablecoin Rules Crypto traded as commodities; stablecoin-specific rules under development with OJK transition
Stablecoin Rules USD is the primary currency; Bitcoin-specific legislation in place
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
  • First country to adopt Bitcoin as legal tender in September 2021 via the Bitcoin Law
  • Government developed the Chivo wallet for citizens, offering $30 USD in BTC incentive
  • January 2025 Decreto 199 made merchant Bitcoin acceptance voluntary (IMF condition)
  • No capital gains tax on Bitcoin transactions for individuals
  • Government has been accumulating Bitcoin reserves and launched Bitcoin-backed bonds
Sources
Sources