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Bank Indonesia yesterday announced its plans to issue a regulation prohibiting transactions using Bitcoin, a digital currency created in 2009 by an unknown person or group under the alias Satoshi Nakamoto.

The regulation would take effect starting next year, an official has said.

The head of transformation of Bank Indonesia Onny Widjanarko said the regulation on e-money would be issued in the near future.

According to him as reported by kompas.com on Tuesday;

“Currently, there is no single regulation for those who carry out transactions using Bitcoin,”

He further added that the central bank was currently carrying out an in-depth study to determine whether the central bank would include a ruling on Bitcoin in the prevailing e-money regulation or in a separate regulation on cryptocurrency.

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