Indonesia’s Presidential Election Sees Crypto-Friendly Team in the Running

cryptonews.com:

Indonesia former Defense Minister Prabowo Subianto has declared victory in the presidential election following unofficial vote counts indicating a significant lead, potentially securing a single-round win in his third bid for the presidency. 

Subianto, along with his pro-crypto running mate Gibran Rakabuming Raka, have been chosen as Indonesia’s next president and vice president, respectively. 

Unofficial results indicate Prabowo secured nearly 60% of the vote, surpassing the threshold to avoid a runoff, with approximately 85% of votes counted. Pollsters conducting “quick counts” at voting stations nationwide suggest Prabowo secured approximately 58% of the votes, with the tally ranging from 86% to 95% of ballots as of 1400 GMT.

To win in a single round, a candidate must secure more than 50% of the votes cast and at least 20% of the ballot in half of the country’s provinces. The election, considered the world’s largest single-day event, featured nearly 259,000 candidates vying for over 20,600 posts across the Indonesian archipelago.

The legislative contest revealed a potential strong parliamentary backing for Prabowo’s government coalition, garnering approximately 42% of votes compared to the 27% backing Anies’s alliance.

The victory signals a potential continuation of Indonesia’s crypto-friendly policies, which were initiated under the leadership of incumbent President Joko Widodo. Widodo’s government has actively embraced the local interest in cryptocurrency to bolster the national economy, resulting in a higher number of registered crypto investors compared to stock traders in the country.

During their election campaign, Prabowo emphasized their intention to enhance supervision of tax compliance among both stock