Indonesia is at war with bitcoin again
Back in February 2014, Reuters reported that Indonesia had decided to ban the use of digital currencies. The press quoted the country’s central bank as saying: “Bitcoin and other virtual currencies are neither currency nor legal tender in Indonesia. We advise carefully relate to bitcoin and other virtual currencies “.
And recently it turned out to be limited service two cryptocurrency payment platforms Toko Bitcoin and Bitbayer providing their services to residents of Indonesia. Bitbayer, an alternative to BitPay, has announced it will cease operations with 1 November. Users advise you to withdraw your funds from the platform before the end of the month. Toko Bitcoin being popular service for payment of utility bills, I decided exclude digital currencies from available payment methods.
Although now there is no information about the official order of the central bank, it is worth noting that the head of the department, Agus Martovardojo stated, what bitcoin not is an legal tender and what if, if will be found that cryptocurrencies are being misused, will be measures taken. Previously sellers in Indonesia willingly accepted bitcoin.
Probably, this the decision will have a negative impact on a large number of fintech startups operating in Indonesia. To many of them have to or reconsider the role of cryptocurrencies in their operating structures, or move to another country. Together with themes no messages, which could indicate Tom, that the country will be closed exchanges no cryptocurrencies yet.