LPEM FEB UI (the Institute for Economic and Social Research, Faculty of Economics and Business, University of Indonesia) reveals that the crypto asset industry contributed IDR 70.04 trillion to Indonesia’s economic growth in 2024, equivalent to about 0.32% of national GDP. However, the study also suggests that this contribution could soar to IDR 260 trillion if all crypto trading were conducted through officially regulated platforms. Indonesia currently ranks third globally in crypto adoption, with 23 million user accounts and IDR 650.6 trillion in transaction value during 2024—a growth of 335% over the previous year. In terms of employment, the crypto sector has generated over 333,000 jobs, and if fully formalized, it could increase employment to 1.2 million workers.
Calvin Kizana, CEO of Tokocrypto, welcomes the findings, saying they confirm that crypto has moved beyond being a mere investment trend and now acts as a digital economy sector with real multiplier effects—driving growth, creating jobs, and enhancing financial-digital literacy. He argues that for the sector’s potential to be fully realized, regulation must be adaptive, taxation must be proportional, and enforcement against illegal platforms must be consistent. LPEM FEB UI also estimates that with full legalization and optimization, the crypto sector’s contribution to GDP may reach 0.86%–1.18%, while employment could expand to 0.62%–0.85% of the national workforce.
