On October 21, 2024, President Prabowo Subianto introduced the Merah Putih Cabinet, which will guide Indonesia for the next five years. His Vice President, Gibran Rakabuming Raka, has consistently emphasized the importance of preparing Indonesia’s workforce for emerging technologies such as AI, blockchain, and crypto.
Several ministers have expressed positive sentiments about crypto and blockchain. These individuals are expected to play critical roles in shaping the regulatory landscape for blockchain and crypto, potentially impacting the country’s digital economy. Who are they?
Irene Umar – Deputy Minister of Creative Economy
Irene Umar has been an active advocate for blockchain, particularly in gaming and digital art. As the founder of W3GG, she has been deeply involved in promoting blockchain-based creative solutions across Southeast Asia. Now, as Deputy Minister of Creative Economy, her focus is on expanding the use of blockchain in areas like NFTs and digital art.
“Blockchain can unlock creative potential and drive financial inclusion,” she said. Businesses exploring creative blockchain applications may find Indonesia to be an increasingly fertile ground for innovation, especially in sectors such as gaming and digital assets.
Zulkifli Hasan – Coordinating Minister for Food
As former Minister of Trade, Zulkifli Hasan played a pivotal role in the launch of Indonesia’s Crypto Futures Exchange in 2023, aimed at protecting investors and improving public understanding of digital investments.
“Crypto assets have the potential to benefit the national economy while providing convenience to the public,” he said.
Zulkifli’s continued influence suggests that Indonesia’s crypto infrastructure will expand, creating more opportunities for businesses in the digital asset space.
Read more: 6 Reasons Why Crypto Companies Can’t Ignore Indonesia
Airlangga Hartarto – Coordinating Minister for Economic Affairs
Airlangga Hartarto has called for a balanced approach to cryptocurrency, emphasizing both its potential and its risks. His stance in 2021 suggests that while Indonesia remains open to crypto innovation, there will be ongoing efforts to ensure that the market is managed responsibly.
“We must not be allergic to crypto. It’s a reality today, but we need to manage its impacts wisely,” Airlangga explained.
Businesses can expect a regulatory environment that seeks to encourage innovation while maintaining economic stability.
Dito Ariotedjo – Minister of Youth and Sports
Dito Ariotedjo has focused on educating Indonesia’s younger generations about blockchain and cryptocurrency, highlighting the need for future skills. He sees crypto as an essential component of the digital economy and is pushing for youth programs that integrate blockchain education.
“Our youth must be prepared for future technologies, including blockchain and crypto,” Dito said during the launch of the Business Center Degree Crypto Token (DCT) in 2023.
Businesses entering the Indonesian market can anticipate a growing, digitally savvy workforce with expertise in blockchain and crypto.
Read more: 5 Reasons Southeast Asia Can Become a Web3 Developer Hub
Sri Mulyani Indrawati – Minister of Finance
Sri Mulyani has been leading efforts to ensure that Indonesia’s crypto policies are aligned with global standards, focusing on consumer protection, transparency, and regulatory clarity.
“Global standards will help tackle challenges such as money laundering and market manipulation, fostering trust in the crypto industry,” she said at the 2023 G20 Summit.
With Sri Mulyani shaping policy, businesses can expect clearer guidelines for crypto operations in Indonesia, providing more stability for market entrants.
Thomas Djiwandono – Deputy Minister of Finance
Thomas Djiwandono is keen on leveraging blockchain technology to streamline government processes and improve public services. He has highlighted the efficiency gains that can be achieved through blockchain adoption, particularly in customs and excise.
“Blockchain can make government processes more efficient,” he noted during a recent conference.
Businesses involved in government services or infrastructure development could see opportunities in supporting these blockchain initiatives.
Read more: Top 12 Crypto Communities in Indonesia
Bahlil Lahadalia – Minister of Energy and Mineral Resources
Bahlil Lahadalia once stated that the Indonesian government is always open to constructive technologies, including blockchain, which can accelerate economic development and investment.
In December 2019, he acknowledged that blockchain technology has great potential in Indonesia, driven by the size of the digital market and Indonesia’s position as one of the largest democracies in the world.
Rosan Roeslani – Minister of Investment and Downstreaming
Rosan Roeslani, a strong supporter of blockchain for business competitiveness, has highlighted the technology’s potential to advance industries across Indonesia. He previously emphasized blockchain’s role in increasing efficiency and driving investment.
“Blockchain can propel industries forward, and Indonesia offers vast opportunities,” Rosan explained during his tenure as Chairman of the Indonesian Chamber of Commerce and Industry in 2019.
Read more: Complete Guide to Crypto Regulations in Indonesia – All You Need to Know in 2024
Nezar Patria – Deputy Minister of Communication and Digital
The Ministry of Communication and Informatics, now renamed the Ministry of Communication and Digital, has been a key player in regulating crypto in Indonesia. Nezar Patria, as Deputy Minister, has taken steps to promote digital economy initiatives, such as supporting the launch of PT Pos Indonesia’s first NFT stamp in September 2024.
“Our young people can be creative and make money through technology. Crypto, NFTs, the metaverse, and blockchain all have their place,” Nezar said.
Sakti Wahyu Trenggono – Minister of Maritime Affairs and Fisheries
Sakti Wahyu Trenggono has recognized blockchain’s potential in the maritime sector. In 2022, he highlighted how crypto technology could create new opportunities for the development of Indonesia’s vast maritime industry. His ministry has been working on infrastructure projects like the installation of submarine cables to support the growth of crypto and blockchain technology.
For businesses interested in maritime innovations or digital infrastructure, Indonesia offers a developing environment for blockchain solutions that address industry-specific challenges.
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With key figures in the government supporting blockchain and crypto development, Indonesia is becoming an increasingly attractive market for businesses in the digital economy. However, navigating regulatory frameworks, building local partnerships, and understanding the market dynamics require expert guidance.
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