Indonesia vs Uganda
Crypto regulation comparison
Indonesia
Uganda
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.
Uganda restricts cryptocurrency. The Bank of Uganda issued a 2022 circular (NPSD 306) barring licensed payment service providers from facilitating crypto transactions. A 2023 High Court ruling upheld the circular, declaring cryptocurrencies illegal under the National Payment Systems Act 2020. No crypto exchanges are licensed to operate. Informal P2P crypto activity exists despite restrictions.
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
- BOU Circular NPSD 306 (April 2022) bars licensed entities from facilitating crypto
- 2023 High Court ruled cryptocurrencies illegal under National Payment Systems Act 2020
- Growing crypto adoption, particularly for cross-border transactions
- No specific crypto taxation rules
- Financial Intelligence Authority requires VASPs to comply with AML laws