Indonesia Elects Pro-Crypto President and Vice President

According to CoinDesk, former defense minister Prabowo Subianto and his pro-crypto running mate, Gibran Rakabuming Raka, have been elected as Indonesia's next president and vice president. The pair secured nearly 60% of the votes and will be inaugurated in October. This win could lead to the continuation of Indonesia's crypto-friendly policies under incumbent president Joko Widodo, who is also Gibran's father. Widodo's government has aimed to capitalize on local interest in cryptocurrency to support the economy, with the country having more registered crypto investors than stock traders. During the election campaign, Prabowo stated that his team plans to tighten supervision of tax compliance among stock and crypto traders. Gibran expressed their intention to support the development of young experts in blockchain and cryptocurrency, emphasizing their commitment to nurturing 'future talents with future skills.' The election of Prabowo and Gibran could maintain existing policies and potentially pave the way for more crypto-friendly regulations.