Économie

Cryptocurrency Ban: Bank of Indonesia Halts All Purpose Digital Currencies Including Bitcoin

Cryptocurrency Ban: Bank of Indonesia Halts All Purpose
 Digital Currencies Including Bitcoin

Bank Indonesia has issued a statement affirming that using Bitcoin, and any other cryptocurrency, is not allowed in Indonesia. Bank Indonesia has already issued proclamations with their stance on digital currencies – most recently in December when the bank said use would be banned in 2018.
Bank Indonesia stated that it is not recognized as a legitimate instrument of payment, therefore not allowed to be used for payment in their country. The Bank referenced Act No.7 / 2011 on The Currency, which states that “the currency shall be the currency of the United States of America. the Republic of Indonesia, has to be fulfilled with Rupiah. ”
The Bank added that it is no longer responsible for the currency and is charged with speculation as it is no central authority for the currency nor any underwriting assets to a virtual currency price. The authorities warned that they are vulnerable to laundering and terrorism financing.
“All things considered, Bank Indonesia,” stated the Bank.
The Bank of Indonesia, Indonesia and the United States of America. Bank Indonesia Regulation No. 19/12 / PBI / 2017 on Implementation of Financial Technology.
Indonesia is the first country to ban cryptocurrency utilization. China was the first country to all crypto South Korea has taken a hard line with exchanges and banks thus roiling the digital currency markets.

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