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Indonesian Central Bank Continues Campaign Against Cryptocurrencies and Bans Bitcoin as Payment

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The Indonesian Central Bank has resumed its campaign against digital currencies by ordering the ban on The use of the main virtual currency Bitcoin means of payment. The bank claimed that Bitcoin is neither a legal nor a recognized means of exchange and payment in Indonesia.

The last action of the central bank was considered as the reason for the closure of Bitcoin payment platforms based in Indonesia. and TokoBitcoin. BitBayar, an alternative to services such as BitPay, has issued a notice that it will stop serving on November 1st.

In addition, TokoBitcoin chose to stop accepting the main cryptocurrency as a method of payment.

Although there is no report that the central bank has officially requested closure, the statement of the governor of the central bank, Agus Martowardojo, against Bitcoin and its users is a warning clear for them.

In a statement, Martowardojo stated that the cryptocurrency of high-dog was not a legitimate means of payment and that if used as such, the authorities would take action.

Previous Campaign of Indonesia Against Digital Currencies

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In February 2014, a Reuters report claimed that the Indonesian government had decided to ban the use of virtual currencies in the country. The central bank also issued a warning against their use as legal payment tools

Part of the statement from the central bank at the time said:

"Bitcoin and other virtual currencies are neither currency nor legal payment tools in Indonesia People are advised to pay attention to Bitcoin and other virtual currencies. "

The However, the government has reconsidered its position on digital currencies and has virtually ignored their use by individual users. and commercial services involving virtual currencies.

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