Indonesia's crypto tax revenue surged by 181% in 2024, reaching 620 billion rupiah ($38 million), marking the highest collection since digital asset taxation began in 2022. This increase was driven by a rise in transaction volumes, which totaled 650 trillion rupiah ($39.67 billion) last year. However, 2025 has seen a decline in tax revenue, with collections at 115 billion rupiah ($6.97 million) by July, attributed to market volatility. In response, the government has introduced new regulations, including tax reforms in August, to manage the sector. These reforms aim to encourage activity on domestic platforms by increasing taxes on foreign exchanges and adjusting VAT on mining operations. Additionally, the reclassification of crypto assets as financial assets under the Financial Services Authority (OJK) represents a significant regulatory shift. Despite challenges from price volatility, officials see crypto taxation as a long-term revenue opportunity.