Jakarta, June 26 -- Indonesia's crypto industry currently stands at the crossroads of potential and peril. On the one side is its considerable potential that has not been fully tapped. On the other are global challenges that are becoming increasingly complex.

Indonesia ranked third in the Chainalysis 2024 global crypto adoption index, which reflects the public's enthusiasm and interest in the digital asset.

However, neighboring countries such as Vietnam and Thailand have continued to move forward with government regulations and incentives that could erode Indonesia's competitive crypto edge in a short time.

Thailand, for instance, has just announced a five-year personal income tax (PPh) exemption policy for individuals using local cryp...