Overview

• Indonesia’s Vice President Gibran Rakabuming Raka met with Bitcoin Indonesia representatives to explore using renewable energy for bitcoin mining and to outline national education programs for financial resilience.
• Delegates shared Michael Saylor’s long-term price forecasts tied to Indonesia’s 2045 independence centennial to underscore bitcoin’s hedge potential.
• Indonesia has raised crypto transaction taxes from 0.1 percent to 0.21 percent for domestic trades and from 0.2 percent to 1 percent for overseas transactions; it also doubled VAT on mining to 2.2 percent as policymakers consider reserve integration.
• Brazil’s Chamber of Deputies will hold its first public hearing on August 20 to assess Bill 4501/2024, which proposes capping bitcoin at five percent of foreign reserves under central bank and finance ministry oversight with cold-storage rules.
• These developments align with a global trend after the US government launched a nearly 200,000-btc Strategic Bitcoin Reserve in March and early adopters El Salvador, Bhutan, Kazakhstan and Pakistan began or expanded sovereign bitcoin holdings.