Bitcoin Forum

Indonesia’s Central Bank is Planning to Ban Bitcoin in 2018: Report

Bank Indonesia (BI), the country’s central bank, is drawing up regulation to enact a sweeping ban on all forms of cryptocurrency, their trading and their usage in transactions as payments, according to Agus Martowardojo – the governor of the central bank.

https://www.cryptocoinsnews.com/indonesia-planning-ban-bitcoin-2018-report/

I hope that the officials will have 2nd thoughts on this one as there is really no sense for the reasons of their banning. Because hearing that "also potentially used [abused] for terrorism financing and money laundering" are old reasons to stay away from cryptocurrency and terrorism and money laundering existed long before Bitcoin was created. This is an obvious act of someone in charge wanting to make waves in politics which will really affect some of its citizens if it ever happen.

Let them ban everything related to crypto currencies, not many people will care about Indonesia. This market has evolved to such degree, there is no way to stop Bitcoin from expanding. Even if people aren't allowed to use Bitcoin in any shape or form, there will be enough ways for them to obtain Bitcoin. Governments are only pushing the people further away from themselves with this, because if you regulate the market properly, you to a certain extent have the ability to maintain some sort of control, which with a ban will not be there. We'll see how this plays out, but it won't have a single impact on the market if they do actually ban Bitcoin.