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In Indonesia, vice-presidential candidate Gibran Rakabuming Raka, running alongside presidential candidate Prabowo Subianto, has been declared the winner of the elections. According to a February 14 report by Reuters, in the unofficial vote count, Prabowo and Gibran secured approximately 58% of the votes, winning the Indonesian presidency. Gibran stands out for his support in the crypto and blockchain sectors.
Election Highlights
Surakarta Mayor Gibran announced in December 2023 that his political party plans to focus on providing opportunities in the crypto and blockchain space for Indonesia’s young population. President Raka commented on the matter:
“We are grateful for the quick count results. All calculations, including those from our opponents’ side and all pollsters, indicate a Prabowo-Gibran victory in a single round. We will form a government consisting of Indonesia’s finest sons and daughters.”
At the time of publication, approximately 86% to 95% of the votes had been counted, and the unofficial results showed Prabowo and Gibran ahead of their rivals Anies Baswedan and Ganjar Pranowo. The official election results are expected to be announced as late as March 20, with the inauguration ceremony scheduled for October 20.
Gibran, the son of Joko Widodo, who has been the President of Indonesia since October 2014. Before his nomination, the rules required that the vice-presidential candidate be over the age of 40, and Gibran was 36. However, the Indonesian court made an exception for regional leaders.
Indonesia and the Crypto Market
With a population of over 277 million, Indonesia, the world’s fourth most populous country, spans thousands of kilometers from its eastern to western borders, hosting more than 17,000 islands. In July 2023, the Indonesian government established a national cryptocurrency exchange and declared it the only legal area for trading crypto assets in the country.
Aside from its national exchange, Indonesia generally does not allow its residents to use crypto for payment of goods and services. In May 2023, the governor of Bali, a popular tourism center for Australians and other foreigners, warned that visitors using crypto payments would be dealt with harshly.
