Bank Indonesia Banned Bitcoin Trade Transactions Cs

Jakarta - The use of virtual money like Bitcoin began ogled the people of Indonesia. However, the sale and purchase of virtual money is strictly forbidden by Bank Indonesia (BI)

BI warns all parties not to sell, buy or trade virtual currency or virtual money such as Bitcoin.

Quoting the written statement of Bank Indonesia, Saturday (13/1/2018). It is affirmed that virtual currency including Bitcoin is not recognized as a valid payment instrument, so it is prohibited to be used as a means of payment in Indonesia.

This is in accordance with the provisions of Law no. 7 of 2011 concerning Currencies stating that currency is money issued by the Unitary State of the Republic of Indonesia and any transactions that have a purpose of payment, or other obligations to be fulfilled with money, or other financial transactions conducted in the Territory of the Unitary State of the Republic of Indonesia shall be obliged using Rupiah.

Ownership of virtual currency is very risky and full of speculation because there is no authority responsible, there is no official administrator, there is no underlying asset underlying the price of virtual currency and the trade value is very volatile so vulnerable to the risk bubble (bubble) and prone to be used as a means of washing money and financing of terrorism, so that it can affect the stability of the financial system and harm the public.

Therefore, Bank Indonesia warns all parties not to sell, buy or trade virtual currency.