Indonesian government is interested in crypto, but general elections could cause a shakeup in the industry if the leadership changes.

The next leaders of Indonesia may not be as enthusiastic about crypto. While the current government issued global plans for cryptocurrency in Indonesia and even established the first digital asset bourse in the world.

Although not all candidates are vocal about crypto, their comments provide clues as to where the industry could be heading under their leadership.

Anies Baswedan, the presidential candidate and Muhaimin ISkandar, his vice-presidential candidate, have both been quiet about crypto issues. They represent the opposition and have plans to overhaul existing policies. This could have some implications for the crypto industry.

Muhaimin has proposed that in 2022, tax crypto transactions to increase state revenue. He also demanded tighter regulation and that the sector be overseen by Financial Services Authority (OJK). The OJK will indeed be taking over crypto supervision in 2025, but the industry is hoping that changeover could mean lesser tax burdens for crypto users and exchanges – something it says has been driving away traders.

He grabbed headlines in December for saying that he wanted to train blockchain and crypto experts so as to improve Indonesia’s technology sector. He repeated this at the second presidential debate on Dec. 22.

Prabowo, meanwhile, has said that his government will increase the supervision of stock and cryptocurrency traders in order to combat tax fraud.

Prabowo Raka, together with the other two candidates, seems most likely to maintain current policies and attitudes towards crypto in the country and possibly embrace more crypto-friendly changes to regulatory laws.

Indonesia’s general election is scheduled to begin on February 14.

Sandali Handagama is the editor.