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Indonesia’s registered cryptocurrency investors surpassed 20 million in 2025 even as total trading volumes fell 24% to $31 billion, according to data from the country’s Financial Services Authority (OJK).
The divergence signals a maturing market where participation is expanding beyond speculative trading, driven primarily by younger, digitally native Indonesians who are integrating digital assets into broader financial habits rather than frequent trading.
The latest figures from OJK reveal a mixed picture for Indonesia crypto adoption. Total crypto transaction values in 2025 reached approximately $31 billion (IDR 482.23 trillion), a significant decline from more than $41 billion (IDR 650 trillion) recorded in 2024.
Despite the reduced trading activity, the number of registered crypto investors continued to climb steadily.
By the end of December 2025, Indonesia had at least 20.19 million registered crypto investors, marking one of the highest adoption levels in Southeast Asia. Regulators say this divergence between falling volumes and rising user numbers reflects changing behavior within the market.
“Crypto asset consumers are continuing to increase, and the trend is very significant,” — Hassan Fauzi, Board of Commissioners Member, Financial Services Authority (OJK).
According to OJK, Indonesia crypto adoption remains particularly strong among younger age groups, many of whom are engaging with digital assets as part of a broader digital finance ecosystem rather than as frequent traders.
OJK officials attribute the continued rise in Indonesia crypto adoption to the country’s demographic profile. Indonesia has one of the largest youth populations in the world, with a growing share of citizens who are digitally literate and comfortable using mobile-based financial platforms.
Hassan Fauzi noted that the dominance of younger investors is a key factor sustaining growth in investor numbers, even as market activity cools.
“Crypto asset consumers are continuing to increase, and the trend is very significant,” — Hassan Fauzi, Board of Commissioners Member, Financial Services Authority (OJK).
Regulators believe this pattern signals a transition away from purely speculative behavior toward longer-term participation. While crypto remains classified as a high-risk investment, OJK officials say increasing familiarity with digital assets is shaping a more stable base for Indonesia crypto adoption over time.
Despite lower transaction volumes, Indonesia crypto adoption continued to generate meaningful revenue for the government in 2025. OJK reported that tax collections from crypto trading reached approximately $46.4 million (IDR 719.61 billion) as of November 2025, demonstrating the sector’s ongoing fiscal contribution.
Authorities view these revenues as evidence that Indonesia crypto adoption remains economically relevant, even during periods of softer market activity.
The regulator has emphasized that sustained growth in investor numbers could improve long-term compliance with tax and regulatory obligations as the market matures.
OJK officials described the 2025 data as a positive signal for the future of Indonesia crypto adoption, suggesting that broader participation may help stabilize the digital asset sector over time. Rather than signaling a decline, the drop in transaction values appears to reflect a cooling of speculative excesses amid wider retail engagement.
Overall, Indonesia crypto adoption in 2025 illustrates a market in transition one where growth is increasingly defined by expanding participation rather than sheer trading intensity.
As younger investors continue to enter the space, regulators expect Indonesia crypto adoption to remain a central feature of the country’s evolving digital economy.
