Indonesia’s cryptocurrency market has seen a significant influx of young investors, with recent figures from the nation’s Commodity Futures Trading Regulatory Agency—Bappebti—revealing that over 60% of crypto investors are between 18 and 30.
A large portion of this group comprises individuals aged 18-24, making up 26.9%, while another 35.1% are in the 25-30 age bracket. This trend highlights the increasing appeal of crypto as an investment option among younger investors, who are showing more interest in digital assets than in traditional financial products.
Ir. Kasan, the head of Bappebti, responded to this growing interest by stressing the importance of financial knowledge for these young investors. He emphasized that having a solid grasp of financial concepts and cryptocurrency markets is crucial, especially for individuals making their first investment.
The 2024 Indonesian Millennials & Gen Zs Report also indicates a trend toward financial planning among the country’s younger generations. The report states that 41% of Gen Zs and 38% of Millennials actively manage their finances, with a clear focus on investments and savings.
Moreover, 26% and 32% of Gen Zs and Millennials, respectively, set aside a portion of their income expressly for investments, demonstrating a proactive approach to managing money through crypto and other investment channels.
To support this surge in young investors and ensure a safe investment environment, Indonesian authorities are tightening regulations in the crypto sector. Bappebti recently extended the local cryptocurrency exchanges’ compliance deadline, requiring them to meet the standards necessary for a Physical Crypto Asset Traders (PFAK) license by late November 2024.
The regulatory framework, first introduced in 2021, has already undergone three amendments to keep pace with the fast-evolving crypto market, showcasing Indonesia’s adaptability and proactive stance in the industry.
To further enhance security in the cryptocurrency space and address fraud, Bappebti has teamed up with both the Indonesian crypto exchange Tokocrypto and the Binance Financial Intelligence Unit (FIU). The partnership also involves Indonesia’s crime investigation agency—Bareskrim—in coordinated efforts to crack down on fraudulent activities within the crypto sector. These joint efforts have led to numerous arrests and the recovery of about $200,000 in illicit assets, demonstrating the country’s strong commitment to protecting its crypto investors.
The country’s enthusiasm for cryptocurrency is also visible in trading volumes. In September 2024 alone, Indonesia saw crypto transactions amounting to $2.13 billion. Though this figure is slightly lower than August’s, the cumulative transactions for 2024 so far have reached $27.10 billion—a 351.97% increase from the same period last year.
This surge in interest among younger investors in Indonesia is a trend that crypto industry players like HIVE Blockchain Technologies Ltd. (NASDAQ: HIVE) (TSX.V: HIVE) expect to manifest in different markets around the world since younger people are more welcoming towards new technologies.
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