Jakarta, Oct. 15 -- Indonesia's cryptocurrency industry has the potential to create up to 1.22 million new jobs and add as much as Rp260.36 trillion ($16.5 billion) to the national economy, according to a new study by the University of Indonesia's Institute for Economic and Social Research (LPEM FEB UI).

The report, released in collaboration with the Indonesian Fintech Association (AFTECH) in Jakarta on Wednesday, revealed that crypto trading could boost GDP by 0.86 percent to 1.18 percent, provided that profits are reinvested into domestic consumption and productive sectors.

"The real economic impact will only be felt if crypto trading profits are used locally in productive ways," said LPEM FEB UI researcher Prani Sastiono.

The study ...