Pro-crypto candidate wins VP slot in Indonesia’s presidential race

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Gibran Rakabuming Raka, the vice presidential candidate running on the ticket with presidential candidate Prabowo Subianto, has reportedly won the race in Indonesia’s election.

According to a Feb. 14 Reuters report, an unofficial tally of votes showed Prabowo and Gibran winning Indonesia’s presidency with roughly 58% of the vote. Gibran, the mayor of Surakarta, reportedly said in December 2023 that his political party planned to focus on providing Indonesia’s younger population with opportunities in the crypto and blockchain space.

“We are grateful for the quick count results. All the calculation, all pollsters including those on our rivals’ side, the figures showed a Prabowo-Gibran win in one round,” said Prabowo. “We will assemble a government consisting of the best sons and daughters of Indonesia.”

Roughly 86% to 95% of votes had been counted at the time of publication, with unofficial results showing Prabowo and Gibran ahead of rivals Anies Baswedan and Ganjar Pranowo. The official results of the election could come as late as March 20, with an inauguration expected on Oct. 20.

Gibran is the son of Indonesian President Joko Widodo, who has served in the position since October 2014. Before his addition to the ticket, rules required a vice presidential candidate to be 40 years or older — Gibran is 36 — but Indonesa’s court carved out an exception for regional leaders.

Related: Indonesia targets launch of its national crypto exchange by June

With more than 277 million people, Indonesia is the fourth most populous country in the world, home to more than 17,000 islands spread across thousands of kilometers from its eastern to western borders. Indonesia’s government launched a national cryptocurrency exchange in July 2023, declaring it would be the only space in the country where the legal exchange of digital assets was allowed.

Outside of its national exchange, Indonesia broadly does not allow residents to use cryptocurrency as payments for goods and services. In May 2023, the governor of Bali, a popular tourist destination for Australians and other foreign nationals, warned visitors who used crypto payments would be “dealt with firmly.”

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