Indonesia has declared Prabowo Subianto as the presidential winner in a landslide victory. The nation has counted over 95% of the votes in an unofficial quick tally, and the former military general has received 58%, surpassing polls’ expectations.

Indonesia’s pro-crypto government

Meanwhile, Gibran Rakabuming Raka, known for his bullish stance on the blockchain and crypto industries, will serve alongside Mr. Prabowo as vice-president.

Mayor Gibran is a prominent individual in Indonesia, and the election victory will likely magnify his national influence. While the law required vice presidents to be above 40 years, the court modified the rules for regional leaders to include 36-year-old Gibran in the race.

Crypto market in Indonesia

Indonesia is among the world’s most populous nations, with its population exceeding 277 million. However, authorities have been strict on digital trading.

The Indonesian government launched a national crypto exchange in 2023 and announced it as the only platform for legal cryptocurrency undertakings.

Besides the authorized exchange, Indonesia prohibits digital assets usage for purchasing goods and services.

Meantime, crypto enthusiasts will wait to see how the new leadership will influence Indonesia’s cryptocurrency industry. Will the Prabowo-Raka duo match El Salvador’s boldness and legalize crypto to enhance its flourishing economy?

El Salvador became the first country to accept Bitcoin as a legal tender in 2021 to fight its inflation challenges. Further, the latest Nayib Bukele reelection cemented the nation’s pro-crypto stance.

Local sources suggest the official election results will arrive on 20 March, whereas the inauguration ceremony will happen on 20 October. The crypto community will likely watch how the new Indonesian leadership will shape the digital assets sector.