Coinspeaker
Indonesia’s Election Results Could Boost Crypto, Say Observers

Industry observers in Indonesia anticipate the country’s electoral results to positively impact the crypto industry. The report cites an interview with Subani, the head of Indonesia’s national crypto exchange, CFX, and William Sutanto from INDODAX.

The two executives believe that the new president-elect, former defense minister Prabowo Subianto, and the incumbent president’s son, Gibran Rakabuming, who were officially declared winners last week, will continue on the country’s already established crypto path.

Unchanged or Change for Better

Indonesia conducted its presidential election in February 2024, with Subianto and  Rakabuming emerging winners. The duo won with almost 60% of the votes, giving their opposition a wide margin to beat.

During the presidential campaign, both Subianto and Rakabuming declared their support for the crypto economy. The president-elect pledged to introduce stringent regulations to curb tax evasion in Indonesia. At the same time, his vice pres...