According to Odaily, Indonesia's cryptocurrency trading activity surged by 335.9% in 2024, reaching 650.61 trillion Indonesian rupiah (approximately $40.2 billion). The Commodity Futures Trading Regulatory Agency (Bappebti) attributed this growth to an increase in both the number of users and trading volumes. As of November 2024, the number of registered cryptocurrency users rose to 22.1 million. Bappebti head Tirta Karma Senjaya noted a growing public confidence in cryptocurrency trading and expressed optimism that the user base will soon exceed 25 million. The most actively traded cryptocurrencies in Indonesia include USDT, BTC, DOGE, PEPE, and XRP. To streamline regulation, Bappebti announced that its role in cryptocurrency regulation will be transferred to the Financial Services Authority (OJK) this year, although it will continue to oversee commodity futures trading.