The Legality of Using Bitcoin and Other Cryptocurrencies in Indonesia

On January 23, 2018, as quoted from TribunNews, the government announced a strict ban on the use of virtual currencies (cryptocurrencies) including bitcoin as a means of transactions and payments in Indonesia.

Bank Indonesia Governor Agus Martowardojo warned the public not to trade or buy bitcoin, because there is no regulatory body that supervises bitcoin.

So it is vulnerable to pose a risk to the community.

The use of bitcoin, said Agus, is also close to the possibility of money laundering and terrorism financing.