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Indonesia Central Bank: Cryptocurrency Payments 'not Legitimate'

Indonesia Central Bank: Cryptocurrency Payments 'not Legitimate'

Indonesia Central Bank: Cryptocurrency Payments 'Not Legitimate' Bank Indonesia has warned that cryptocurrencies may not be used for payments in the country. The central bank published a press release on Saturday, stating that cryptocurrencies are not a "legitimate instrument of payment" in the country, as they do not comply with the 2011 currency act and are not issued bythe Republic of Indonesia. "Financial transactions conducted within the territory of the Republic of Indonesia, has to be fulfilled with Rupiah," the currency act states. As a result, the central bank said that payment firms are not allowed to make virtual currency transactions. "Bank Indonesia affirms that it forbids all payment system operator (principal, switching operator, clearing operator, final settlement operator, issuer, acquirer, payment gateway operator, electronic wallet operator, money transfer operator) and financial technology operators in Indonesia, both bank and non-bank institution, to process transactions using virtual currency, as stated in Bank Indonesia Regulation No. 18/40/PBI/2016 on Implementation of Payment Transaction Processing and Bank Indonesia Regulation No. 19/12/PBI/2017 on Implementation of Financial Technology." The warning makes no mention of cryptocurrency exchanges. The news comes after the central bank revealed in early December 2017 that it was considering new regulations that would outlaw bitcoin transactions from 2018. On the 20th of the same month, the bank issued a new regulation - No. 19/12/PBI/2017 on Implementation of Financial Technology - due to concerns over bitcoin's potential use in terrorism financing, money laundering and drug trafficking. In its latest warning, Bank Indonesia also warned "all parties" that buying, selling or trading cryptocurrenci Continue reading >>

Bank Indonesia Launches Investigation Against Bitcoin Use In Bali, Cautions Against The Cryptocurrency

Bank Indonesia Launches Investigation Against Bitcoin Use In Bali, Cautions Against The Cryptocurrency

Bank Indonesia launches investigation against Bitcoin use in Bali, cautions against the cryptocurrency Bank Indonesia (BI), the countrys central bank, has lowered a special police team to investigate the use of the crytpocurrency Bitcoin across several points in Bali. We are conducting data collection in Bali, especially in tourist areas, coordinating with police. Transactions in other than Rupiah will be dealt with, head representative of BI Bali Province, Causa Iman Karana, said on Saturday, as quoted by Antara . Tourism hubs such as Bali are likely to attract the attention of irresponsible people to conduct virtual currency transactions, according to Karana, who says hes reminding people in Bali not to use any cryptocurrencies because they are not under regulation and have been declared as an illegal payment method in Indonesia. We remind the public to be careful with transactions using Bitcoin, because such currencies are not regulated by law, he said. Executive director of the BI communications department, Agusman, previously said in a written statement that the central bank forbids Bitcoin because it is not recognized as a legitimate payment instrument and therefore is prohibited to be used as a means of payment in Indonesia. This is in accordance with Law no. 7/2011, concerning currency, says Agusman. In that law, currency is money issued by the Republic of Indonesia and any transactions in the country must be paid with Indonesian Rupiah. BI also issued BI Regulation No. PBI: 19/12/PBI/2017 on the implementation of financial technology to clarify the ban. BI prohibits service providers, fintech, e-commerce, and electronic payment gateways from accepting Bitcoin. The possession of the cryptocurrency, says Agusman, is very risky and its value is very volatile. As Continue reading >>

Bank Indonesia Investigasi Penggunaan Bitcoin Di Bali

Bank Indonesia Investigasi Penggunaan Bitcoin Di Bali

Dari investigasi tersebut kemudian ditemukan bahwa ada dua kafe yang masih memakai bitcoin sebagai alat pembayaran. Ada juga 44 usaha lain yang sebelumnya menerima transaksi bitcoin, namun sekarang telah berhenti. Puluhan usaha yang dimaksud antara lain bergerak dalam bidang penyewaan mobil, hotel, agen perjalanan, serta toko perhiasan. Karana menyebutkan, salah satu kafe tersebut menerima transaksi menggunakan bitcoin untuk tagihan lebih dari Rp 243.000, atau setara dengan 0,001 bitcoin. Satu kali transaksi bitcoin membutuhkan waktu sekitar satu setengah jam untuk selesai diproses. Penjual juga menagih biaya administrasi transaksi itu sebesar Rp 123.000. "Langkah kami selanjutnya adalah memblokir mereka sesuai dengan hukum yang berlaku. Kami meminta mereka berhenti menggunakan bitcoin," ujar Karana. "Kami bersama Direktorat Reserse Kriminal Khusus akan menegaskan aturan bahwa semua transaksi di Indonesia harus memakai mata uang rupiah," tambah dia. Untuk diketahui, para penggguna bitcoin di Bali rata-rata merupakan orang asing yang sedang singgah di sana. Bali sendiri merupakan salah satu pusat wisata terbesar di Indonesia, tempat berkumpulnya pendatang dari berbagai negara. Sebelumnya, Bank Indonesia menyebut bitcoin sebagai mata uang virtual yang berisiko tinggi dan spekulatif, karena tidak dikelola oleh badan hukum tertentu serta tidak memiliki basis aset yang jelas dalam penentuan harga. Bank sentral Tanah Air juga melarang transaksi keuangan memakai bitcoin karena hanya satu mata uang yang berlaku di Indonesia, yakni rupiah. Kompas TV Hanya rupiah yang diakui sebagai mata uang yang digunakan dalam transaksi keuangan di wilayah Indonesia. Continue reading >>

Bank Indonesia Memperingatkan Kepada Seluruh Pihak Agar Tidak Menjual, Membeli Atau Memperdagangkan Virtual Currency - Bank Sentral Republik Indonesia

Bank Indonesia Memperingatkan Kepada Seluruh Pihak Agar Tidak Menjual, Membeli Atau Memperdagangkan Virtual Currency - Bank Sentral Republik Indonesia

Bank Indonesia Memperingatkan Kepada Seluruh Pihak Agar Tidak Menjual, Membeli atau Memperdagangkan Virtual Currency Contact Center BICARA : (62 21) 131 e-mail : [email protected] Jam operasional Senin s.d. Jumat Pkl. 08.00 s.d 16.00 WIB Bank Indonesia menegaskan bahwa virtual currency termasuk bitcoin tidak diakui sebagai alat pembayaran yang sah, sehingga dilarang digunakan sebagai alat pembayaran di Indonesia. Hal tersebut sesuai dengan ketentuan dalam Undang-Undang No. 7 tahun 2011 tentang Mata Uang yang menyatakan bahwa mata uang adalah uang yang dikeluarkan oleh Negara Kesatuan Republik Indonesia dan setiap transaksi yang mempunyai tujuan pembayaran, atau kewajiban lain yang harus dipenuhi dengan uang, atau transaksi keuangan lainnya yang dilakukan di Wilayah Negara Kesatuan Republik Indonesia wajib menggunakan Rupiah. Pemilikan virtual currency sangat berisiko dan sarat akan spekulasi karena tidak ada otoritas yang bertanggung jawab, tidak terdapat administrator resmi, tidak terdapat underlying asset yang mendasari harga virtual currency serta nilai perdagangan sangat fluktuatif sehingga rentan terhadap risiko penggelembungan (bubble) serta rawan digunakan sebagai sarana pencucian uang dan pendanaan terorisme, sehingga dapat mempengaruhi kestabilan sistem keuangan dan merugikan masyarakat. Oleh karena itu, Bank Indonesia memperingatkan kepada seluruh pihak agar tidak menjual, membeli atau memperdagangkan virtual currency. Bank Indonesia menegaskan bahwa sebagai otoritas sistem pembayaran, Bank Indonesia melarang seluruh penyelenggara jasa sistem pembayaran (prinsipal, penyelenggara switching, penyelenggara kliring, penyelenggara penyelesaian akhir, penerbit, acquirer, payment gateway, penyelenggara dompet elektronik, penyelenggara transfer dana) dan penyelenggara Continue reading >>

Police, Bank Indonesia To Clampdown On Bali Btc Transactions

Police, Bank Indonesia To Clampdown On Bali Btc Transactions

Police, Bank Indonesia to Clampdown on Bali BTC Transactions Police, Bank Indonesia to Clampdown on Bali BTC Transactions Indonesias Central Bank, Bank Indonesia (BI), have united with the national police service to tackle the illegal use of Bitcoin in Bali. According to them, the tourist hot spot is much more likely to attract people trying to use the cryptocurrency for transactions that are outside the law. The Jakarta Post and local language news source Tempo.co report that on Saturday, January 13, a senior member from BI, Causa Iman Karana, announced the clampdown in Dempasar, the capital of the romantic island getaway location: We are looking out for bitcoin transactions in Bali, particularly in tourist spots. We will take measures against non-rupiah transactions. Karana also called on the people of Bali to not accept transactions using digital money. For the banker, it is the lack of central authority regulating transactions that is a primary cause for concern. Like most central bankers, the fear of their own pending redundancy was also a likely motivating factor behind his words. This recent crackdown in Bali is part of a wider initiative against the use of cryptocurrency in the nation of Indonesia. According to national legislators, making transactions in Bitcoin violates Law No. 7/2011 on currency. This recent reiteration underlines the initiative penned at the bank late last year . In early December, Bank Indonesia issued BI Regulation No. PBI: 19/12/PBI/2017. This expressly banned the use of digital currency in Indonesia and stated that all transactions and payments must be made using the national currency, the rupiah. A spokesperson for the bank, Agusman, at the time spoke of the risks posed to those getting involved in the digital currency space. LikeKaran Continue reading >>

Virtual Currency Is Here, So How Is Indonesia Going To Regulate It?

Virtual Currency Is Here, So How Is Indonesia Going To Regulate It?

Virtual Currency Is Here, So How Is Indonesia Going to Regulate It? Virtual currency, or cryptocurrency, has made its way to Indonesia and government agencies are working to regulate its use. But as Bitcoin, Ripple, Peercoin and other virtual currencies increasingly attract the interest of Indonesians for all kinds of reasons, there is no regulation in Indonesia that deals specifically with virtual currency, a gap regulators hope to close. Although there is as of this writing no specific regulation in Indonesia for virtual currency, a number of regulations can be viewed as relevant to and briefly touch on the subject of virtual currency. Law No. 7 of 2011 regarding Currency (the Currency Law) provides that Indonesian Rupiah is the only lawful currency in Indonesia, and that any transaction in Indonesia for the purpose of payment, the settlement of other liabilities that must be settled with money, and/or other financial transactions must use Rupiah. A definition of virtual currency can be found in Bank Indonesia Regulation Number 18/40/Pbi/2016 regarding Provision of Payment Transaction Processing, dated November 9, 2016 (BI Reg. 18/40). Under BI Reg. 18/40, virtual currency shall mean digital money issued by a party other than the monetary authority obtained by way of mining, purchase or transfer of reward, and includes Bitcoin, BlackCoin, Dash, Dogecoin, Litecoin, Nxt, Peercoin, Primecoin, Ripple, and Ven. Not included in this definition of virtual currency is electronic money. A similar definition of virtual currency can be found in Bank Indonesia Regulation Number 19/12/PBI/2017 regarding the Provision of Financial Technology, dated November 30, 2017 (BI Reg. 19/2017). BI Reg. 18/40 provides that Payment System Service Providers (Principals, Switching Providers, Is Continue reading >>

Bank Indonesia (bi) Larang Bitcoin. Kalau Begitu, Cari Profit Di Sini Saja

Bank Indonesia (bi) Larang Bitcoin. Kalau Begitu, Cari Profit Di Sini Saja

Bank Indonesia (BI) Larang Bitcoin. Kalau Begitu, Cari Profit Di Sini Saja Bank Indonesia (BI) Larang Bitcoin. Kalau Begitu, Cari Profit Di Sini Saja Written by Boby Chandro Oktavianus 22 Januari 2018 Ramainya pemberitaan mengenai Bitcoin dan virtual currency (cryptocurrency) tahun lalu jadi perhatian banyak orang di seluruh dunia, termasuk Indonesia. Terlebih nilainya yang melonjak gila-gilaan hingga tembus >Rp100 juta, membuat Bitcoin beserta cryptocurrency lainnya tidak bisa dipandang sebelah mata sebagai pilihan investasi. Investor dan trader, baik pemula maupun kawakan, tidak melewatkannya begitu saja. Mereka melihat fenomena Bitcoin ini sebagai peluang untuk meraih cuan dalam waktu singkat. Daya tariknya jelas, kenaikan fantastis Bitcoin dari Rp13 jutaan (Januari 2017) menjadi Rp200 jutaan (Desember 2017). Siapa pun pasti tergiur dengan cepatnya untung yang dihasilkan. Di balik berlipat-lipatnya untung yang dihasilkan, Bitcoin menyimpan kekhawatiran sejumlah pihak. Hingga akhirnya Bank Indonesia (BI) membuat pernyataan melarang Bitcoin. Sebenarnya, mengapa Bitcoin bisa begitu fenomenal dan apa alasan Bank Indonesia melarang Bitcoin? Ikuti ulasannya berikut ini. Sekilas tentang Bitcoin: Mata Uang yang Nilainya Tembus Rp100 Juta Bagaimana Tidak Menarik? Dalam Tempo Setahun, Bitcoin Tembus Rp100 Juta Berbeda dengan mata uang fiat (Rupiah, Dolar, dan mata uang negara lainnya), Bitcoin adalah salah satu mata uang digital (virtual currency/cryptocurrency) yang tidak dikontrol otoritas negara atau bank sentral dan penggunanya tak perlu mengungkapkan identitas asli (anonim). Bitcoin pertama kali muncul tahun 2009 dan Satoshi Nakamoto adalah figur di balik munculnya Bitcoin. Tak berbeda jauh juga dengan uang pada umumnya, Bitcoin dan cryptocurrency lainnya berfungsi sebag Continue reading >>

Indonesia Warns Against Cryptocurrency Trading | Fortune

Indonesia Warns Against Cryptocurrency Trading | Fortune

Bank Indonesia is taking a firm stance against cryptocurrencies as it urges all parties to refrain from owning, selling or trading the tokens. Owning virtual currencies is very risky and inherently speculative, the central bank said in a statement Saturday. The digital tokens are prone to forming asset bubbles and tend to be used as method for money laundering and terrorism funding, so it has the potential to affect financial-system stability and harm the public. The move highlights the challenge faced by regulators as they seek to manage potential risks from the global cryptocurrency mania while lacking the authority to prohibit its use. South Koreas central bank banned employees from trading cryptocurrencies on the job last week, while China has outlined proposals to discourage bitcoin mining, the process by which the virtual currency enters circulation. Bank Indonesias statement follows its earlier ban on financial technology companies using cryptocurrencies for transactions in January, which doesnt prohibit trading of the digital tokens itself. While the authority reiterates an existing ban on payment-system providers under its watch from processing transactions using digital currencies, PT Bitcoin Indonesia, a virtual-currency exchange that boasts more than 940,000 members, doesnt fall under its supervision. Continue reading >>

Bank Indonesia Issues Second Statement On Bitcoin And Virtual Currencies

Bank Indonesia Issues Second Statement On Bitcoin And Virtual Currencies

Bank Indonesia Issues Second Statement on Bitcoin and Virtual Currencies Perlahan Beralih dari NFC, T-Cash Resmikan Snap QR Code Bank Indonesia has issued its second official statement regarding Bitcoin following its initial decision in January determining the virtual currency as an illegal and unsupported method of exchange. This time, the tone is no less stern but the central bank has essentially decided that it will not regulate Bitcoin. Any use by the consumers will be at their own risk. Bank Indonesia deputy governor Ronald Waas said in January that Bitcoin violates at least three of the countrys laws but admitted that the bank has no authority to impose punishment or sanctions for anyone using the virtual currency, effectively leaving consumers to decide for themselves. The statement, released today signed by Dr. Peter Jacobs , director of communications at Bank Indonesia, said that taking the currency laws of 1999, 2009, and 2011 into consideration, Bank Indonesia is stating that Bitcoin and other virtual currencies are not currencies or legal tender in Indonesia. The people are urged to exercise caution towards Bitcoin and other virtual currencies. All risks regarding ownership/use of Bitcoin are borne by the owner/user of Bitcoin and other virtual currencies. So where does this leave Bitcoin, Dogecoin, Litecoin, and other virtual currencies with regards to their standings in Indonesia? Essentially this means people are actually free to own, trade, exchange, and use these crypto currencies as they wish, only that they will have no legal recourse when they stumble into situations such as fraud, or theft. Amir Karimuddin last year questioned whether Bitcoin is a currency or a speculative commodity . At that point, one Bitcoin was suddenly worth over US$ 1000 afte Continue reading >>

Bank Indonesia, Police Prevent Bitcoin Transactions In Bali

Bank Indonesia, Police Prevent Bitcoin Transactions In Bali

Bank Indonesia, police prevent bitcoin transactions in Bali Jakarta |Mon, January 15, 2018 | 02:05 pm Due to the constant fluctuation of the cryptocurrency, digital distribution platform Steam also had to make compromises in terms of purchasing.(Bloomberg/George Frey) Bank Indonesia (BI) has teamed up with the National Police to prevent transactions using cryptocurrency bitcoin in Bali after the central bank declared it an illegal form of payment in Indonesia. We are looking out for bitcoin transactions in Bali, particularly in tourist spots. We will take measures against non-rupiah transactions, said BIs Bali office head Causa Iman Karana over the weekend in Denpasar as reported by tempo.co . As a noted tourist destination, he said, Bali was an alluring place for those who wanted to carry out illegal transactions. Therefore, he called on the people not to accommodate offers of transactions using the virtual money. We warned people not to carry out transactions with virtual money because there is no authority that regulates the transactions, he said. Previously, BI spokesman Agusman said the central bank prohibited payment using bitcoin as it violated Law No. 7/2011 on currency. To specify the ban, BI has also issued BI Regulation No. PBI: 19/12/PBI/2017 on the implementation of financial technology. Under the law, any payment in Indonesia has to be in rupiah. Agusman also warned that transactions with bitcoin had high risk because the cryptocurrency had no official administrator. He also explained that bitcoin was at high risk of being used for money laundering, terrorism and other criminal transactions. Therefore, [BI] wants all parties not to sell, buy or trade the virtual currency, he added. (bbn) Continue reading >>

Cryptocurrency Ban: Bank Of Indonesia Halts All Usage Of Digital Currencies Including Bitcoin

Cryptocurrency Ban: Bank Of Indonesia Halts All Usage Of Digital Currencies Including Bitcoin

Cryptocurrency Ban: Bank of Indonesia Halts All Usage of Digital Currencies Including Bitcoin has issued a statement affirming that using Bitcoin, and any other cryptocurrency, is not allowed in Indonesia. Bank Indonesia has previously issued proclamations sharing their stance on digital currencies most recently in December when the bank said usage would be banned in 2018. Bank Indonesia stated that digital currencies are not recognized as 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 currency shall be money of which issued by the Republic of Indonesia and every transaction that has the purpose of payment, or other obligations which need to be fulfilled with money, or other financial transactions conducted within the territory of the Republic of Indonesia, has to be fulfilled with Rupiah. The Bank added that ownership of digital currencies is risky and loaded with speculation as there is no central authority responsible for the currency nor any underlaying assets to base a virtual currency price. The authorities warned that digital currencies were vulnerable to bubbles and susceptible for money laundering and terrorism financing. All things considered, Bank Indonesia warns all parties not to sell, buy, or trade virtual currency, stated the Bank. The Bank Indonesia forbids all payment system operator and financial technology operators in Indonesia, both bank and nonbank institution, to process transactions using virtual currency, as stated in Bank Indonesia Regulation No. 18/40/PBI/2016 on Implementation of Payment Transaction Processing and Bank Indonesia Regulation No. 19/12/PBI/2017 on Implementation of Financial Technology. Indonesia is not the fir Continue reading >>

Indonesia Central Bank Warns Over Cryptocurrencies

Indonesia Central Bank Warns Over Cryptocurrencies

January 13, 2018 / 9:19 AM / in 4 months Indonesia central bank warns over cryptocurrencies JAKARTA (Reuters) - Indonesias central bank has issued a fresh warning about trading in cryptocurrencies like bitcoin because of the risk of losses to the public and even a potential threat to the stability of the financial system. FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo Bank Indonesia (BI) has previously said that cryptocurrencies were not recognized as a legal medium of exchange, so that they could not be used as a means of payment in Indonesia. The ownership of virtual currencies is high risk and prone to speculation because there is no authority who takes responsibility, there is no official administrator and there is no underlying asset to be the basis for the price, BI spokesman Agusman said in a statement issued late on Friday. He said that virtual currencies could also be used in money laundering and terrorism funding, and due to all these factors could have an impact on the stability of the financial system and causes losses for society. (Cryptocurrency) is not a legal medium of exchange. We remind (people of) its risks. When the risks occur, the losses will be borne by the public. We are obliged to protect consumers and protect them from a bubble, Agusman said by telephone on Saturday. Asked whether such statements from authorities could stir panic among those who had already invested in cryptocurrencies, he said: They didnt consult with us when buying....please help us make the people understand. Indonesian authorities have been stepping up their warnings and last month BI issued a regulation banning use of cryptocurrencies by financi Continue reading >>

Bank Indonesia To Ban Bitcoin Transactions Next Year

Bank Indonesia To Ban Bitcoin Transactions Next Year

Bank Indonesia to ban Bitcoin transactions next year Jakarta |Wed, December 6, 2017 | 12:49 pm Bitcoin is a digital currency designed to obscure the identities of the people using it.(Bloomberg/George Frey) Bank Indonesia plans to issue a regulation prohibiting transactions using Bitcoin, a digital currencycreated in 2009 by an unknown person or group under the alias Satoshi Nakamoto. The regulation wouldtake effectstarting next year, an official has said. Bank Indonesia head of transformation Onny Widjanarko said the regulationon e-moneywould be issued in the near future. Currently, there is no single regulation for those who carry out transactionsusing Bitcoin,Onny said in Jakarta on Tuesday as reported by kompas.com . He said the central bank was currently carrying out an in-depth study to determine whether the central bank would include a ruling on Bitcoin in the prevailinge-money regulation or in a separate regulation on cryptocurrency. Therefore, BI called on merchants not to accept Bitcoin as an official payment instrument as the bank would not be responsible for any losses incurred throughtransactions, Onny said. He said that Bitcoin could potentially be used to violate prevailingregulations on terrorism, money laundering, prostitution and drug trafficking. Countries hold different stances on Bitcoin, withChina and Russia rejecting itwhile Japan accepts itas a payment instrument. Bitcoin transactions are made with neither middle men norbanks. There are no transaction fees and transactions can be made anonymously. (bbn) Continue reading >>

Begini Risiko Pakai Bitcoin Versi Bank Indonesia

Begini Risiko Pakai Bitcoin Versi Bank Indonesia

Begini Risiko Pakai Bitcoin Versi Bank Indonesia Ilustrasi Bitcoin (Liputan6.com/Andri Wiranuari) Liputan6.com, Jakarta - Bank Indonesia ( BI ) dengan tegas melarang penggunaan bitcoin dalam setiap transaksi di Indonesia. Salah satu faktor yaitu tingginya fluktuasi yang dimiliki bitcoin. Hal ini kemudian membuat Bank Indonesia menyisipkan penegasan mengenai pelarangan penggunaan bitcoin ini dalam dua Peraturan Bank Indonesia, yaitu PBI 18/40/PBI/2016 tentang Penyelenggaraan Pemrosesan Transaksi Pembayaran dan dalam PBI 19/12/PBI/2017 tentang Penyelenggaraan Teknologi Finansial. Direktur Eksekutif Pusat Program Transformasi Bank Indonesia (PPTBI) Onny Widjanarko membuktikan risiko bitcoin tersebut. "Risiko secara konvertibilitas itu tidak ada jaminan ditukarkan dengan fiat money, apalagi dengan volatilitas harga yang tinggi," kata Onny di Gedung Bank Indonesia, Senin (15/1/2018). BI: Kualitas Uang Beredar Lebih Baik pada 2017 Ia menyebutkan, saat ini bitcoin memang memiliki nilai paling tinggi di antara 1.400 virtual currency atau mata uang digital yang ada di dunia. Per satu bitcoin kini nilainya Rp 193,8 juta dengan kapitalisasi pasar mencapai US$ 240 miliar. Dari chart harga yang ditampilkan Onny, harga bitcoin yang disebutkan sebelumnya jauh berbeda jika dibandingkan dengan harga satu hari sebelumnya Rp 194,1 juta. Bahkan jika dibandingkan harga 13 Januari 2018, saat ini ada di Rp 203,7 juta. Tingginya fluktuasi harga tersebut karena nilainya ditentukan pada harapan penawaran dan permintaan di masa mendatang (spekulatif), Dari data tersebut menunjukkan fluktuasi harga bitcoin sangat berisiko. Hal inilah yang menyebabkan Bank Indonesia ( BI ) terus melarang penggunaan bitcoin tersebut. "Tidak hanya itu, bitcoin juga berrisiko terhadap stabilitas sistem keuangan apabi Continue reading >>

Central Bank Of Indonesia Warns Against All Cryptocurrency Use, Cites High Risk

Central Bank Of Indonesia Warns Against All Cryptocurrency Use, Cites High Risk

Central Bank of Indonesia Warns Against All Cryptocurrency Use, Cites High Risk Bank Indonesia warns its citizens against all use of Bitcoin, citing security concerns and restating the illegitimacy of any digital currency within the country. Bank Indonesia issued a press release on Jan. 13, warning its citizens against the use of selling, buying or trading cryptocurrency and reiterating that virtual currency is not legitimate within Indonesia. This statement comes after the September reassertion that Bank Indonesia will not accept Bitcoin (BTC) as payment, leading to the voluntary closure of two Indonesian-based crypto exchanges, BitBayar and TokoBitcoin. Bank Indonesia cites concerns over potential use in money laundering and funding terrorism as reasons behind their anti-cryptocurrency campaign: Virtual currencies are vulnerable to bubble risks and susceptible to be used for money laundering and terrorism financing, therefore can potentially impact financial system stability and cause financial harm to society. While there is no official ban on Bitcoin within the country, per Wikipedia , the press release forbidding all activity relating to cryptocurrency takes a harsher tone than previous statements that merely advised citizens to be careful around Bitcoin. Algerias government has also taken steps towards a crypto ban , with reports that the 2018 Finance Bill will make Bitcoin ownership and trading illegal within the country. In early January, Egypts top Religious Official, Grand Mufti Shawki Allam, declared Bitcoin unlawful according to Sharia law citing concerns about money laundering and terrorism funding as well. Continue reading >>

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