The Commodity Futures Trading Regulatory Agency (Bappebti) in Indonesia has advocated for a revision of the nation's cryptocurrency tax structure, challenging the current 0.1% capital gains tax and an additional 0.11% value-added tax (VAT) levied on crypto transactions.

This push for reassessment comes as the agency reaches out to the Ministry of Finance, urging officials to reconsider their approach towards the taxation of cryptocurrency transactions within the country.

Recent local reports highlight Bappebti's proactive stance, revealing the agency's specific concerns about the imposed taxation rates.

According to these insights, Bappebti officials, led by Tirta Karma Senjaya, the head of the Bureau of Market Development and Development, are keen on aligning the tax regimen with the rapidly evolving status of cryptocurrencies, anticipating their significant role in Indonesia’s future economy.

By prompting this reevaluation, Bappebti underscores the essence of adapting regulatory frameworks to foster the integration and growth of cryptocurrencies within the national economic landscape.