Report contents
APAC · Emerging
Indonesia
Crypto Livability Index 2025·data to 31 Dec 2025
Scoreboard
Five pillars, then the 22 sub-pillars scored 0 to 4. Empty sub-scores are held out of the total, not zeroed.
The number behind the rank
| Raw capability score | 57 / 84 |
| P2P liquidity bonus (tie-breaker) | +4 |
| Inflation 2.6% · unbanked 44% · remittances 1.1% GDP · capital controls 0.58 · sanctions 0 | CNI 0.223 |
| Need multiplier | ×0.835 |
| Livability score | 0.567 |
Raw 57/84 = 0.679 capability. Crypto-Necessity Index 0.22, from five components: inflation 2.6% (three-year average 2023 to 2025), unbanked 44% of adults, remittances 1.1% of GDP, capital-control intensity 0.58 (KAOPEN 2023), sanctions exposure 0. Need multiplier ×0.83. Livability score 0.567, rank #16 of 79.
Three findings
Need lifts Indonesia 16 places, into the global top sixteen
The country ranks #32 on raw capability but #16 once need is applied, with 44% of adults unbanked and deep P2P liquidity wired directly into the GoPay and OVO mobile-wallet rails. It is the largest archetype of a high-adoption market where the demand is structural rather than speculative at the margin.
A 0.21% transaction levy and no capital-gains tax on profits
Under regulation PMK 50/2025, effective August 2025, Indonesia taxes crypto as a flat 0.21% stamp on gross transaction value on licensed domestic platforms while charging no capital-gains tax on profits, the same model that earns Vietnam and Indonesia top tax scores. The market is large: 29 OJK-licensed exchanges, 1,444 tradable tokens, and 19.56 million registered holders by November 2025.
Supervision matured in 2025, but payment stays walled off
Oversight moved from the commodity-futures regulator to the financial-services authority on 10 January 2025, reclassifying crypto as a digital financial asset, yet the central bank's standing prohibition on crypto as a payment instrument keeps utility-bill coverage at 0. Bali's grassroots merchant scene of roughly 37 documented businesses runs on closed-loop and QRIS off-ramps that bypass that firewall.
In one line
"Indonesia legalised crypto as a traded asset, taxed it lightly, and watched 20 million people sign up. The one thing it still forbids is paying for anything with it, and the market routes around that anyway."
Watch in 2026
Trajectory 3/4, trending liberalising. Supervision transferred to the financial-services authority in January 2025 under regulation POJK 27/2024, the licensed-token list expanded from 229 to 1,444 by April, and the transition period runs to 2027. The cap on the trajectory is the central bank's continued ban on crypto as payment, so the regime is liberalising in active implementation rather than fully expanded.