Bitcoin Forum

Bitcoin in Indonesia is not legal yet, all buying and selling activities must use rupiah. In the past many sellers offered payment with bitcoin, now they can't. the government has given regulations so that all trading activities must use the rupiah. will this be a negative or a positive impact?

I tried to search the news for bitcoin.  As given by you no information could be collected that bitcoin is illegal in Indonesia.  Following are the links in favour of my statement.
https://en.wikipedia.org/wiki/Bitcoin_Indonesia
https://steemit.com/bitcoin/@heiditravels/bitcoin-in-indonesia

Please note ; while posting such type of information if supporting new is enclosed it will be better.  Otherwise no use.

there will be no impact at all
Indonesia is not a country that has a large volume in crypto transactions
so i don't think it will affect the price of crypto at this time

Not yet, that's not true because there is no official rule that says Bitcoin is illegal. In Indonesia the Government is still awaiting and they are only giving a call that digital currency is a risky thing. for me Indonesia is one country that has a very large number of Bitcoin users, Indonesia has a number of people who are very interested in a technological advance.

Very good thinking and I like the way you think because thinking like you is a bit draining my mind to understand very well about bitcoin in the country of Indonesia.
In my opinion, it is still unclear how the state of bitcoin in the Indonesian country is illegal because that is not true because there are no official rules that say Bitcoin is illegal. In Indonesia the government is still waiting and they only give a call that digital currency is a risky thing. for me Indonesia is one country that has a very large number of Bitcoin users, Indonesia has a number of people who are very interested in technological progress even with the development of bitcoin more and more people believe it.

I genuinely think that much of the impact is done by big exchanges and huge whales. Normaly Crypto holders are strong believers and these news should not impact them.

Well that doesn't say that retailers can't still accept bitcoin for unofficial payments, does it? Just because the government says all transactions must be done in rupiah doesn't necessarily mean that it is impossible to use bitcoin. India is experiencing a similar situation right now where their banks are prohibited from dealing with bitcoin, but their people aren't, at least yet.

So the large network of users in Indonesia can still transact between each other. Peer to peer, not necessarily business to client. That's technically not illegal, right?

Unless the Indonesian gov't releases an official statement, anyone can still use bitcoin at their own will, just not to the extent that banks can facilitate bitcoin-related deposits and withdrawals. This is actually a normal reaction from a government that has yet to come up with their definition of the cryptocurrency relating to their constitution. There's still room for reconsideration since the government hasn't released a law yet.

ndonesia's central bank and the National Police on Bali are coordinating investigations into alleged electronic money transactions. Indonesian people have also been informed. It is against the law to buy, sell or trade electronic money.

it is important to know FUD that when some untrusted source talks about "bitcoin ban" your first assumption should always be that they are lying to you and it is always correct. the fact is only one or two countries like Bangladesh has already banned bitcoin and the rest of the countries in the world (99%) have not done anything like that.
your Indonesian case is a clear case of FUD.

Having to buy bitcoin with your local currency is something, Having bitcoin trading banned completely is something entirely different. There is no issue if your country is only allowing you to trade bitcoin with rupiah.

yes im from indonesia and i do still able freely buyjng bitcoin but i do read about this news, and its true that in indonesia bitcoin use is still not legal and still uncertain. But i do think there is no one would stop you or put you into jail just because you buying something using bitcoin

broo, as long as the web is concerned with bitcoin and this forum is not blocked by the government, I don't think that is a big problem because we can still interact with bitcoin. I know that the development of bitcoin in Indonesia is very wide, but maybe the government's way not to legalize bitcoin is to support the rupiah currency so as not to lose competition with other currencies. After all, there are also many issues from officials in Indonesia who have supported the existence of bitcoin in Indonesia, so I don't think there is a need to worry.

And where did he say that bitcoin was illegal?
He said bitcoin was not a legal method of payment, and yes that's 100% true.

https://www.internationallawoffice.com/Newsletters/Banking/Indonesia/Ali-Budiardjo-Nugroho-Reksodiputro/Mandatory-use-of-the-rupiah-in-Indonesia


Or simply said, only the rupiah is a recognized currency and paymenth method in Indonesia.
So, there is no "FUD", it's a fact known for years!!!

The Bank Sentral Republik Indonesia announced that digital currencies are neither currency nor legal payment tools in Indonesia. It also advised people to stay away from Bitcoin and other virtual money. However, since then no actions have been taken against local crypto-exchanges and trading coins as well as organizing ICOs are still technically legal in this country.

I think in Indonesia, bitcoin is not legalized as a means of payment, but if it is used as an investment such as gold is not prohibited, globally this does not have too much impact, it may only affect bitcoiners in Indonesia, the ban on bitcoin as a means of payment because of laws governing legal payment instruments are only rupiah

Indonesia in general is very poorly developed economically. It is a fairly poor state greatly lagging behind in the development of the economy. In some of its parts, generally the money appeared less than a century ago) Therefore, it is not worth waiting for them to connect quickly to new technologies. And even more so as from this to repulse.Also, the state has fairly strict laws, which in turn will also impede the acquaintance with the Bitcoins.

It's not unusual. Indonesia is same as almost all of the other countries. Bitcoin is not accepted by governments yet. It's not an official currency and it's not used for buys and sells. The fiat money is still the most common currency all around the world.

In the future there will be more and more countries putting down regulations on Bitcoin. So I am not surprised to see that happening to Indonesia. But this is a good sign as it shows Bitcoin is a serious innovation to the society.

Well like other countries Indonesia also has a big amount of people who are very keen to crypto currency and the entire concept is still unclear as no official statement has come from government.

I have not heard that bitcoin is totally illegal in Indonesia but as long I know as bitcoin is not legit payment method and they think it does not have legal protection so they disallow virtual currency as local payment.

"In an article i saw that Indonesia Bank (IB) has also
banned the use of Bitcoin as a legal means of
payment in Indonesia.I think it’s a negative impact
for indonesia.
"

"their government just don't understand the concept behind
cryptocurrency. they must investigate first before doing that for the
sake of mane indonesian who use crypto. My country government
Philippines was once said that bitcoin is a scam but it not until they
discovered its value and now accepted it. Hope it will happen also
in Indonesia.
"

"I don't think this is going to happened, since the Indonesian
government is also still studying about the possibility to the blockchain
system implemented in Central Bank of Indonesia.Furthermore,
nothing can stop blockchain technology and cryptocurrency to enter
Indonesia, not even the government, so I am not worry about it.
"

"If its happen, we must continue to support cryptocurrency, educate to
many other people about bitcoin and other cryptocurrencies or create
a bitcoin anti-ban movement group. I also ever read an researcher from
indonesian which the research results of indonesian researchers is not
appreciated in Indonesia but appreciated abroad. I hope Indonesia will
aware and see positive side of Bitcoin and Cryptocurrency.
"

In my opinion, it will not affect Bitcoin prices at all. Because Indonesia has not yet progressed in crypto. But if Indonesia gives legitimacy to Bitcoin, then Bitcoin will be good for it. I think this will happen in the future.

Not only in Indonesia but in many country the government put ban on it but it never put any effect on it because bitcoin is boundless. Hoping soon they will realize their mistake and make it legal.

Dude, I'm Indonesian too, you have to read the latest news often. Bright future for crypto asset users in Indonesia, Badan Pengawas Perdagangan Berjangka Komoditi (Bappebti) will open opportunities for trading crypto currencies such as bitcoin ethereum in Indonesia, Bappebti Establishes Cryptocurrency can be traded on the futures exchange.
here's the source : https://bitcoinindonesia.net/2018/06/04/bappebti-bitcoin-bisa-diperdagangkan-di-bursa-berjangka/

It has negative impact for sure but I don't think that is big, I don't know the reason behind making it illegal maybe to protect local money but it will probably be legal in the future.

There is still the activities of selling and buying goods like to buy pulse, buy/sell clothes, pay electricity bills etc. using Bitcoin and or virtual currencies as the payment method. I am the one who carried out the activity like that and I did not feel the impact of the regulation :P
So, the regulations of the Indonesian Government that prohibit such activities, does not cause a negative or positive impact.

For now it is a positive news that indonesia not banned yet the bitcoin because many indonesian people are using bitcoin they invest a lot and many users here in forum are indonesian so I think if indonesia banned bitcoin it will have bad impact to them.

Yes you are right, Indonesia only legalized rupiah as payment method, but government not banned Bitcoin, investor in Indonesia still can do investment in Bitcoin but can't do transaction using Bitcoin in Indonesia.

hello,

friends this brilliant team and project hope will be bright future thanks. (extent tokens) and bitcoin

I think it will not affect in bitcoin price because Indonesia is not available in crypto market. in my opinion If Indonesia approve cryptocurrency it will a very good sign for cryptocurrency and bitcoin. I hope it will be happen in future.

I think indonesia is a muslim country, some muslim countries denies bitcoins because it is not legal to them, or say it is not permitted to them. However some islamic country are allowing bitcoins does not mean there are contradicts, but a difference in accepting bitcoins.

This is a good news indeed. The Indonesian market is still untapped and it is yet to see how they will use bitcoin to turn their condition of their economy for the better. maybe their factories or the tertiary sectors may use this as an opportunity here.

    Actually not only in Indonesia bitcoin is not legal. There are other countries that also in stage of accepting bitcoin. I think Indonesia just wait the right time to become open in cryptocurrency and allowing their community to use bitcoin. It also affect in bitcoin because there are many people in Indonesia that also crypto lover and they are belong in demands of bitcoin.

Bitcoin as well as the crypto currency is not accepted by many countries yet. Actually crypto currency is a digital currency and this requires to have strong technology and expertise. Many countries do not have either high technology or expertise so it is not allowed in many countries.

Once you buys Bitcoin wit rupiah your next transaction could be done by using Bitcoin to buy ETH and from ETH you can buy other coins... You don't need to use rupiah all the time... Doesn't have effect on Bitcoin anyway it only affect the Bitcoin if you buy a large amount of it...

In the short run, yes, long run no. Your country is not the first to regulate its circulation  other countries of the world are following suit too. I think with these regulations, governments are taking a hard stance in it and are not ready to back down anytime soon, but, they will. Religion could have informed your country's decision as well.  When the big guns start embracing crypto, we'll be here seeing other countries relaxing the rules.

bitcoin is designed really to disrupt the monetary system and the government, to some that are of less knowledge about the foundation and principles of blockchain and bitcoin it realy creates a negative impact but to those with strong knowledge about it, it realy doesnt matter at all

bitcoin is not an illegal technology when it is online but when the case or discussion of legality or illegality is discussed is when it comes to territorial transactions. when you have to change the bitcoin directly to a local fiat currency.

Bitcoin isn't illegal in Indonesia any more than it is "legal" now, they never wrote laws on it. The banks and government want to keep track of everyone buying and selling bitcoin because the rupiah has lost so much value. The problem is that half the country is unbanked and bitcoin won't have the scandals the banks in Indonesia have had.

In the likely event the government "bans" bitcoin, Indonesian's buying bitcoin (https://www.cryptogamblingsites.com/country-guides/indonesia-crypto-currency/) should be using anonymous methods that are available. Many of those same ways to buy bitcoin will work even if the laws change.

Bitcoin doesn't care what your laws are, it just stores value.

But not illegal its just restriction to using bitcoin as payment,better in rupiah

If it is not legal and the government set rules for its transactions, then what is its status in their place? But anyway, the government has their point, Rupiah will lost its power if bitcoin will rule.

When someone cannot use Bitcoin properly, it will be in vain. Bitcoin was created as a system that has many benefits. What is worth waiting for is how the government responds to the development of Bitcoin. This is very important because when the government participates in providing support, this will be much better for the future of Bitcoin, including the conditions for the development of Bitcoin in the Indonesian country.

As far as I know, there is no official attitude from the government regarding bitcoin, but it is also not illegal, in fact there are many Indonesians who invest in bitcoin, it's just that the government is calling for this investment to be risky. there is no significant impact from that.

I think it is not a right decision that have been taken by Indonesian government because it is the ultimate future of this world and they deny the future and i believe they will regret soon.

I think Indonesia only have a little impact for the crypto market in general, because the volume or the amount of people who use bitcoin in Indonesia is not as big as in the other country. The governments of Indonesia, don't directly banned the usage of bitcoin, but they just warn their people because of the high risk that bitcoin have.

this will not have a negative or positive impact, because the price of bitcoin remains the same if it is exchanged with a rupiah currency from Indonesia,

Well, its normal. Maybe it can affect the price or maybe not. But we can still hold while bitcoin is volatile in the market.

in my opinion, Bitcoin has no legal standing suitable in Indonesia. Called a commodity, it has no intrinsic value, if it is called a product that is in the investment area, bitcoin also does not have an underlying value. So it's rather difficult to put in the category of commodities, money, or investment products,

In February The Bank Sentral Republik Indonesia" announced that digital currencies are neither currency nor legal payment tools in Indonesia. It also advised people to stay away from Bitcoin and other virtual money. However, since then no actions have been taken against local crypto-exchanges and trading coins as well as organizing ICOs are still technically legal in this country with this one can't really say.

bitcoin in Indonesia is not yet legalized but selling and buying can happen peer to peer  there is a way to sell bitcoin or buy bitcoin in local bitcoin website fully good service and escrow method  we can release bitcoin after the payment only  is good and nice i experience it many times i really like this website . but hopefully soon  many exchanges will try to operate buying and selling in near future  .

In my country bitcoin is also not legal yet but everybody is using it three me without any awareness of government, we are even having a politics who declared to have an income in cryptocurrency, because of fixation.

Not legal so what, government make it illegal for their own interest but if you find that bitcoin is beneficial for you then you must use it as i do because still i'm getting the opportunity to use it.

in Indonesia it is not legal because the average Indonesian still uses the rupiah as a payment tool but in the past he used bitcoin as payment but if the Indonesian government approves the existence of bitcoin then there must be another bitcoin currency but in my opinion it is impossible.

In my opinion this does not have a negative or positive impact, because even before there was bitcoin Indonesian people were used to making payments with rupiah and no complaints. Maybe bitcoin will only be used in certain circumstances.

In my knowledge, Bitcoin just prohibited for transaction activity, so we can't used it such spent, etc. But if you say 'Not Legal", i think it's not true because the government never said like that. They are not decide yet. And we all know, average holder from Indonesia used bitcoin for investation and trading on exchange like binace, poloniex, huobi, indodax, etc (that's because we can't use it for shoping hehe)

Yes bitcoin in Indonesia is not legally use because the currency of government issue is rupees. Maximum users use rupee as their daily purposes.

The government forces people to use the national currency. It seems to me that it is not right to force people to use a certain currency, but this happens almost all over the world and in every country.

there is no definite assertiveness from the government, whether bitcoin is legal or illegal because of the difficulty of transactions using bitcoin in Indonesia and we consider it illegal. if bitcoin is truly illegal I don't think there will be any impact on us, even though the government prohibits users from staying on their stand because they are safe using bitcoin.

in my opinion, bitcoin in Indonesia is not legal because the Indonesian government issued a regulation if all transactions in any form must use rupiah cash, in the past in Indonesia many sellers have offered payment using bitcoin but for now it cannot happen and until now even all types of transactions must use rupiah cash

In Indonesia, holding bitcoin as an asset is not illegal, but for doing the transaction such as buy and selling something by using bitcoin as a payment, that is illegal. In my view, it is not give a really big impact, because in Indonesia the people can still have bitcoin.

Yes I know that. And every cryptocurrency player who wants to shop, the people there sell their coins to the rupiah first.

Countries may decide to ban the crypto but it doesn't affect the crypto market in the long term. Holders are strong believers and this kind of news doesn't affect them much. There are always some ways to trade with bitcoin/crypto in any country.

Yes, you are right, but I think there's no negative impact. Although, the country's central bank, Bank of Indonesia, issued a regulation banning the use of cryptocurrencies including Bitcoin as payment tools starting 1 January 2018, the status of Bitcoin in Indonesia is legal. Activities such as bitcoin trading, holding, and mining remain not covered by the regulation.

I personally think there will be no impact at all even the state of bitcoin in Indonesia is growing despite the illegal status of bitcoin in Indonesia.
Indonesia is not a country that has large volumes in crypto transactions so I don't think that will affect crypto prices at this time.

We do not know if bitcoin is legally legal in Indonesia because it is not ours and is not broadcast on tv or social media. Otherwise, bitcoin in the Philippines is not legal.
I'm just wondering how much money I've spent on bitcoin and because of scams. But just know that bitcoin is legal.

nice thinking but in my opinion in indonesia bitcoin not illegal because bitcoin still use everywhare and everytime.
and this is a natural impact for us .

According to my opinion, Indonesia is same as almost all of the other countries. Bitcoin is not accepted by governments yet. Like Bangladesh. I hope that these countries may accept bitcoin after few days.  ;) ;)

I agree with you. Many governments don't yet know how to regulate this sudden influx of digital currency which makes the matters all the worse but it shouldn't stop users from these countries to use BTC as it can be used outside of that country.

The Government in Indonesia does not prohibit someone from storing and owning bitcoin. What the Indonesian government does is not wrong. They do that for prudence, maintaining business competition, risk control, and consumer protection. After all, the ban on transactions uses bitcoin to maintain the sovereignty of the rupiah as a legitimate payment instrument in Indonesia.

vietnamese dongbitcoin is also not legal

It definitely won't affect the Bitcoin price in general though Bitcoin payment is illegal in Indonesia but bitcoin trading hasn't been banned and the government is still observing the situations. They might opt for regulating Bitcoin in my opinion. However, you can still make peer to peer transactions using bitcoin or use TOR if you are afraid of the government.

Not only Indonesia. Bitcoin has banned in many countries like India, Nepal and many more. But it still running with good growth rate. I think Indonesia is not major country. It may not effect Bitcoin.

We in the cryptocurrecy world have heard this type of news severally, so it does not move us anymore, it is only newbies in cryptocurrency community that will take to heel when he or she hears this type of news. So it will not make any impact.

Another feather added in the haters cap and when I hear such disgusting news it really makes me sick. I mean what the hell is happening around the world.

in Indonesia, bitcoin has not been legalized as a global currency, Indonesia still highly appreciates the rupiah, because Indonesia's central bank has announced that digital money cannot be used for transactions, but if it only invests in gold or shares it may not be banned, TV stations also report if bitcoin is full of risks and the government cannot regulate it.

OP said its not legal in Indonesia but he didn't said that it was illegal,just like in the Philippines the government wasn't legalizing bitcoon or cryptocurrency but theres no stand that this is illegal so meaning the government is neutral about crypto.maybe this is what OP want to say here

I find it very strange !!!
While in the same country as Southeast Asia like Vietnam, it is allowed to operate Bitcoin and increasingly expanding, stronger !!!

Indonesia has a large number of people who are very interested in crypto currencies, bitcoin is not a legitimate payment method and they think it has no legal protection so they do not allow virtual currencies as local payments. When someone can't use Bitcoin correctly, it will be in vain. Bitcoin was created as a system that has many benefits. What is worth waiting for is how the government responds to the development of Bitcoin. This is very important because when the government participates in providing support, it will be much better for the future of Bitcoin. As far as I know, there is no official attitude from the government regarding bitcoin, but in fact there are many Indonesians who invest in bitcoin, there are even some applications which has been officially released in Playstore and Appstore which provides crypto currency exchange to Indonesian Fiat money and vice versa, and the founder of the application is from Indonesia.

indeed, in Indonesia, bitcoin users are very numerous and widespread, but the government is less supportive of the issue of bitcoin. Many people who want to follow up on illegal and legal problems by their government. It is possible that the government is neutral about this.

This kind of news always make me feel unhappy. May be governments still don't understand crypto thats why they can do this because if they do they never attempt this.

bitcoin in Indonesia cannot be called legal or illegal, because there are no written rules about bitcoin in Indonesia.
Indonesia has the 3rd largest population in the world, and quite a lot of crypto users, if the Indonesian government prohibits bitcoin, it certainly affects the price of bitcoin, although it is not significant.

So far as indonesia doesn't have a big influence on bitcoin, being legal or illegal doesn't affect anything in bitcoin. Unlike china or russia it's very influential. Illegal bitcoin in indonesia is caused due to government concerns about society because bitcoin is not an agency for investment.

of course this will have a positive impact because the Indonesian government is very clear to prohibit bitcoin as a digital currency replacing the rupiah and now the existence of the Indonesian community is still not fully aware of bitcoin so that the Indonesian people will still trade and even buy and sell goods with rupiah.

I am an Indonesian native but what is clear is that bitcoin is not banned. but you can have it and use it.
that's what is clear that I can tell you.

I think it's a good indication that government is looking for possibilities of having bitcoin in the country. They put some regulation in order to protect the general public. In my country all trading also is using our local currency.. We are a crypto lover nation even though we got some bad news lately about scam of bitcoin.

Actually,some of governments are not legally approved bitcoin in these countries. Indonesian government is also same. But I think there will be no impact at all affect for the bitcoin from that because of still Indonesia is not a country that has a large volume in bitcoin. Therefore there is not affect on bitcoin.

It's illegal as a payment system but it's legal for owning or investing on bitcoin.
And also there is official exchange from indodax and it has a million active members from indonesia

That's weird in the first place why would they allow to buy and sell bitcoin in their exchange. Maybe governments wants to control them, coz paying bitcoin is like you're out for a taxation.

Yes, right. there is no fixed regulation for Bitcoin in Indonesia, that means Bitcoin is legal if it is used as an official payment instrument such as payment of electricity, PDAM, Telkom etc. But this does not mean that Bitcoin cannot be used in Indonesia, you can still use Bitcoin to buy anything on condition that you have to exchange your Bitcoin in rupiah. and the good news is that Bitcoin companies in Indonesia, namely Indodax, have voucher making services, so you can make vouchers with your Bitcoin and make payments with the voucher.
Bitcoin is a digital asset so everyone has the right to own Bitcoin.

Indonesia's Central bank just has to get tough with cash algorithm when recommendations all citizens and legal persons in this country stop trading virtual money. In a text published on 13/1, the Central Bank of Indonesia, commented: "owners of virtual money is very adventurous and brings the essence speculative". According to this text, virtual coins are "tend to form a property bubble and tend to be used as a method for washing money and raising funds for terrorist activities, so it is likely to affect the stability of the system Finance as well as harm to the public. "

as i know that indonesia still dont make a decision about bitcoin, so they still have the neutral status, dont have the approved for bitcoin or decline it, so maybe Indonesia can decide to agree or not

The Indonesian government has no move to ban or support Bitcoin transactions in Indonesia. At indoneisa there is a trading platform named bitcoin indoneisa active

Payment method being illegal and the currency being illegal is completely different things. So, having Bitcoin payment illegal in Indonesia won't affect global market any ways. I don't think Indonesia have a much large BTC community that can create impact on the global market. So, It won't harm BTC's reputation in any way.

I hate to say this but are you trying to spread FUD by providing inaccurate information? I don’t think they don’t laid out the axe to Bitcoin and other cryptocurrencies yet. I think the government has lack of misunderstanding yet about Bitcoin, so they need to be educated for good.

Yeah bitcoin is not ilegal in the indoneisa or other countries. But, if many people know a bitcoin, papers currency not be used :)

I truly think this will have a negative impact unles their government burns some bitcoins. The value of bitcoin itself depends on the circulating supply and its demand. Although there are not so many good news about bitcoin, I still believe it will pump by next week since more exchanges are being developed.

Yes, In indonesia bitcion until now is not legal, but even government of indonesia was not agree there still people using bitcoin to their own will, it's against the law to buy, sell or trade electronic money. The ban on bitcoin as a means of payment.

I don't think it will have any affect on Indonesian users let alone global market. Indonesian government has only banned transactions using virtual currency that does not mean Bitcoin is banned. You can still trade bitcoin if you know how to bypass government's eyes.

I think even though it is not legal but the Indonesian government still provides opportunities for crypto owners to continue to carry out their activities. the Indonesian government has not taken this serious action against crypto.

Indonesia has been depressed by the dollar. And the rupiah does not want to be more depressed by the state of bitcoin. Actually the Indonesian government already knows that there is great potential in bitcoin. But, like that. As a tool for buying and selling is prohibited. If you want to invest it is permissible. But, there are still risks

Not yet, that's not true because there are no official rules that say Bitcoin is illegal. In Indonesia the government is still waiting and they only give a call that digital currency is a risky thing.

I heard, and read some news that Indonesia did not support crpytocurrency as a currency, but not as an investment tool. well, I also heard that as long as it doesn't interfere with the activities of fiat transactions, that doesn't matter. only the risk is not borne entirely by the state.

I am not sure yet that the news is true or not. But if it’s true I don’t think it will have any impact on crypto market as Indonesia is not a country that has much crypto transaction.

I don't think Indonesia will have a big impact on crypto market turnover, but I see crypto trading in Indonesia can still be done, so there is no problem for legal or illegal as long as the trade can still be done.

That's the point exactly. As long as it doesn't interfere. So if you hold it for "investment purposes" then it is not wrong. It's technically still legal.

Investments can also be used to make transactions from time to time. We cash out of our fixed term deposits to buy houses, pay for education, buy cars, etc. So it really doesn't matter, just keep it and don't tell anyone. Besides, what are they going to do to find out, hack into your email? I doubt it.

Now in those countries where bitcoin and the entire crypto system are banned, these countries need to be patient for 5 years. I think that in 5 years, bitcoin will be legalized throughout the world! a lot of countries have opened their doors to the crypto market! and these countries will be even more.

Well good to know about your thought but so far as I am concerned there is no such announcement has been declared yet officially in Indonesia. So there is nothing to get all tensed about.

I dont know if indonesia is among the list for those counrtry who banned bitcoin
Its all of the users of bitcoin to stop there illegal intention of bitcoin coz the purpose is for legal transaction and for investment.

Many investors believe that it will not bring any major impact in the market. Indonesia does not hold any major Bitcoin portion. Mostly the market is affected by the manipulation of the big whales. However, nothing can be done as the Indonesia citizens have to follow the regulations of their government.

The Indonesian Futures Exchange Supervisory Board has decided that electronic money will be the subject of future transactions at the country's stock exchange. Although the Indonesian central bank (BI) still does not recognize electronic money as a valid means of payment.

True. Bitcoin in indonesia is not legitimate. The indonesian government recommends people should not invest in electronic money. Those who violate will be the indonesian police custody. The indonesian government is very strict with electronic money.

It seems like we have a lot of Indonesians on the bitcointalk forums so I guess they are passionate about seeing crypto succeed in their own country.

Indonesian all know that Bitcoin is not legalized and it can not be use for paying or buying something. The bitcoin users in Indonesia must convert first their bitcoin to rupiah in order to make a transaction. Hopefully, next it will be applied for a toll of payment or buying, because it is more simple and effective for future in the modern and digital era.

Not legal because bank restrict it dont worry we still can using bitcoin, mean it just restrict not illegal

I think theres still no final decision from the Indonesian government regarding to te regulation of bitcoin. But, as long as i know, the governments only warn the Indonesian people about the risk to jumped in the crypto market. Well, maybe it can be a negative impact for some Indonesian people that already join the crypto market.

As it is in many other countries. So this is nothing new really. What's new is if more and more countries start accepting Bitcoin as an alternative mode of payment. Now this would be awesome!

Positive or negative, Bitcoin will still make its way up. This I believe is the fate of Bitcoin or crypto as a whole. The cryptocurreny world is going through a process as everything else. But soon, many nations will realize that crypto is actually the future.

In my country too but  still  there  are lot  of people who is  into crypto  currencies as well in many country and I think it's  only  for  government  who  do not understand  bitcoin. I do believe that  they  will just  regulate  it.

  I don't believe that in Indonesia Bitcoin is banned because the Indonesian's are very well interested in advanced technologies . I have not heard about official rules that Bitcoin is illegal in Indonesia but it is not legalized as a means of payment it is used as an investment as gold so this will not have any impact in Bitcoin in Indonesia . Normally  Indonesia is having a poorly developed economy and it will take time for them to be developed in modern technologies.

      Till now i have not heard that Bitcoin is banned in Indonesia since Indonesia is very poor in their economic growth I don't believe that Bitcoin will be banned in Indonesia but the people are very much supportive for the modern technologies so I think that Bitcoin will not be illegal for this country..Bitcoin can be kept as an asset like gold is  used as an asset the government entertains the people to spend their fiat currency for any payments.

The Indonesian government through interagency coordination has agreed to address the virtual currency of bitcoin as a currency that has no legal basis and is risky. Prohibition of using bitcoin applies strictly as a transaction or payment system tool, but as an investment instrument is left to the public with a number of records from the government regarding the risks. As long as it is not completely banned in Indonesia, bitcoin can still grow in Indonesia even though the number is currently slumping because bitcoin prices have not improved.

There are few countries like Indonesia have not been able to study on how to deal with bitcoin so that bitcoin and cryptocurrencies are not yet legal, but I think and hope that someday they will be able to understand and embrace the use of cryptocurrencies. Yes, it will take a long time for them but what matter most is that when the time comes they are willing to deal with it.

Yeah there is no rule of thumb at the moment, the government only says to be careful in using cryptocurency, they just say
that this investment is very risky and all risks are borne by everyone, there is no prohibition written in Indonesia

People are misunderstanding about the legality of bitcoin in Indonesia. The Government said that the Bitcoin or other crypto is not allowed to be used for payment something. But, I am sure that we can be trading it in a crypto market so we can gain such an amount of profit from it (similar to Forex). So, in my opinion as long we trading the bitcoin and another crypto in the crypto market is allowed by the government. That's my thought.

Yes.until now bitcoin in Indonesia not yet legal by goverment.
But I think soon bitcoin will be legal in Indonesia because day by day bitcoin be more popular and so many people believed in bitcoin.

most likely the government wants to protect the rupiah exchange rate so that it does not continue to decline, because it is feared that business people and large-scale buying and selling people will no longer use the rupiah and start switching to bitcoin, and of course a very large influence can occur on the value of the rupiah itself

so that the government still needs time to control the velocity of money in the money market so that they can switch to cryptocurrencies, because of the risk of inflation in the rupiah that cannot be prevented

Reality says that bitcoin is still not available yet in all parts of the world. Its legality depends on countries polices and regulation. However, this does not totally affect its potential and performance to deliver excellently since it's still functional even without other countries. It is not dependent in one country alone. Let's all be hopeful and positive that it will be widely accepted in the future and more will be educated to learn about the technology.

Yes, that's is in our UUD 1945 but this regulation is aplies for all other currencies include USD. It is not a problem for bitcoin, indonesian government don't ban bitcoin our government just prohibit any transactions which using other currency, only rupiah that accepted. It seems that government don't have a problem if indonesian citizens use electronic money such as bitcoin, we know that we can use OVO (which is not rupiah) for pay Grab and until now government have no problem with it.

bitcoin in Indonesia is still illegal, in Indonesia it has not formalized bitcoin as a material for work, if bitcoin has been officially opened, more and more will work in bitcoin, I hope that bitcoin will be illegal in Indonesia.

It wouldn't have big effect impact, Government only want to protect their currency. That is why they don't allow bitcoin as payment. But it is still better, than they make bitcoin illegal like other country already did.

in my opinion it is not only the country that prohibits bitcoin from making direct transactions but I have future confidence that bitcoin will be accepted in all countries

Some countries still not be able to patronized bitcoin or any crypto currency but it doesn't mean its not allowed its just take a little time for a government or country to adapt it. Here in my country bitcoin is allowed and we grateful about it because it shows that our government embracing bitcoin as it's part of the currency we using right now that we can exchange crypto currency to fiat.

True, bitcoin in the Indonesian state is still illegal. Bitcoin is not a legal transaction / payment tool in Indonesia, because the process of buying and selling transactions in Indonesia uses Rupiah as a legal payment instrument.

This is without a doubt, a negative impact to our cryptocurrencies and the whole market because their flow rate decreases. I had heard many reports due to the banning of cryptocurrencies on many countries and this is normal. Normal because the Indonesian government are scared that their rupiah will undergo a deflation.

I don't think Indonesia can use blockchain technology as a payment tool through Bitcoin. yes it's true in Indonesia Bitcoin is still not legal and hopefully Indonesia can legalize Bitcoin then it will have a positive impact.

Countries strongly juggle among themselves the possibility of trading BTC. But this will not change until BTC is officially legalized ...

There are a lot of countries where bitcoin is not legal but it is not a big deal because though it is not legal they can use it because it run through internet.

Until now bitcoin in indonesia is not legal their goverment is not agree of bitcoin because they think its so risky, scams and they afraid that they can't control and manage the fastest spreading of bitcoin to their country.

Indonesia does not have much power to influence the market. In such a ban, the Indonesian people will suffer. Crypto money exchanges will not be much affected.
It's a bad situation.

If the government of Indonesia don't welcome the operation of bitcoins .it is up to them.
That's not our business.
We can focus to another country who bitcoins is always welcome

Very few countries around the world give a perfect support for Cryptocurrency. Indonesia being a country with more and more cryptocurrency, users in the country hasn't got any sort of official or legal solution for Cryptocurrency usage. Till date no strict rules has been imposed on usage which makes the people of Indonesian people use without any fear.

the truth is bitcoin is not a legal tender in Indonesia, and most countries state the same
but Indonesia Govt never explicitly say bitcoin is banned within the country
it's simply that bitcoin hasn't been accepted and regulated,
hence government issued the warning of danger in bitcoin trading (buy/sell) and related businesses (investment etc)
and this fact forms yet another misconception among Indonesian's bitcoin users,
they think since it's not banned and unregulated, then it's not taxable :-X

I think not only Indonesia does not legalize bitcoin, there are many countries in various worlds that do this. but now bitcoin still has high potential and good, so I think this can be used as a top choice for investment.

In my opinion, it is not only Indonesia that prohibits bitcoin, but in other countries there are still many who forbid it. Even though bitcoin is banned but that doesn't make bitcoin die, because bitcoin has high potential that can be used to improve people's economy, so I think even though bitcoin is not legalized there are still many people who will continue to use it for future investments and I don't think investing in bitcoin is an idea the bad one.

yes, thats true. you cant buy  with bitcoin. but the problem is not about some store not accept bitcoin as payment, because there are many store accept without government's intervention. because not all people know about bitcoin. you can make transaction if you deal with someone about when the payment use bitcoin. so, when all people know about bitcoin, and the owner of market know about bitcoin, there is a chance to trade the stuff with bitcoin

Get your story straight OP you are misleading a lot of people saying that cryptocurrencies is illegal in Indonesia when the truth is it is not. If you want to find out for yourself they have their own local board here in Bitcointalk and you can ask them for yourself if you want to confirm something. You are maybe mixing up your news with another country or worse is you are getting it from an untrustworthy source.

It will certainly negatively affect bitcoin pricing. The bitcoin market is being hampered by adverse regulations from some governments. The Indonesian government is protecting their traditional money

bitcoin in the indonesia is not legal but its not illegal too, and the government is make the regulation about buy and sell anything is using their local currency, they will makes the transaction and economy is transparent for them, so there are no inflation in that country

There are many Indonesians interested in making money from trading, not only with electronic money, but also with stocks and foreign exchange.

lol . if it is not legal then it is already considered illegal .

even if a country doesnt use a crypto , inflation will still be possible .

if indonesia really restrict bitcoin , they can still use other cryptos . not unless all of the cryptos are also banned on their country .  but i think indonesia will soon realize that they shouldnt have ban cryptos because cryptos are too useful and can play a major role to improve the economy of a certain country that accepts it .

Bank Indonesia states that Bitcoin is not a legal currency or payment instrument in Indonesia.

On that basis, BI asked the public to be careful in Bitcoin transactions in Indonesia.

There needs to be cooperation between stakeholders in addressing the presence of cryptocurrency. If there is already a framework, digital transactions can be smooth. It could also be an opportunity to improve the ease of investment index in Indonesia, if seen in the future

it is absolutely true because the government is not legalized by the government because of pressure from Indonesian banks. because what is feared by Indonesian banks if bitcoin is legalized it is an Indonesian bank afraid that its customers will move on bitcoin

Indonesia is the newest country that does not recognize Bitcoin as a legitimate payment instrument. Previously, a number of other countries had already stated the same attitude, such as Malaysia, Thailand, India and China.

Each state and its government has the right to legalize cryptocurrency or not. Most countries do not want to see changes in their economies, and this will be mandatory. Many simply do not trust the digital currency, as it is impossible to control and track.

the negative impact is the price of bitcoin will drop dramatically because many bitcoin users will switch back to the rupiah and the positive impact on the rupiah is the strengthening of the rupiah to the value of bitcoin

What is certain is that the country of Indonesia transacts with the rupiah, many Indonesians are unfamiliar with internet technology and bitcoin, this is the obstacle of people who rely on real work. When people are traced, they are still poor and not ready to face the free market. Bitcoin will still exist and continue to grow even though Bitcoin news in Indonesia is illegal.

You're right. The government does't legalize the existence of bitcoin, therefore it can not be use for any payments or transactions. All payments should use its own currency, Rupiah. As good society we should follow and obey the rules and regulation of government. Even though we can not use Bitcoin it doesn't mean that we are allowed to break the law. Of course it is not good society.

We can convert Bitcoin to rupiah to use for payment and it doesn't decrease the value of Bitcoin. We get the advantages of bitcoin anyway.

Clearly Indonesia is still on the process of accepting and implementing Bitcoins, just like
other Asian countries years ago whom were on the verge of engaging with crypto.
It's a safe process to use local currencies. But I think things will progress more over time.

if in Indonesia it is indeed the government has not legalized bitcoin. because according to the government bitcoin will have a negative impact on the country. so the government is still thinking long. Moreover, all transactions in Indonesia still use the rupiah as the country's currency.

Yes some Government think that all the illegal transactions are done using Bitcoins they never think that if the drug peddlars are using common currency then the common currency will also be illegal...They just blame bitcoins.where bitcoin is just a currency

I am from Indonesia, so far I have not experienced any problems from the government regarding the existence of bitcoin in Indonesia, Oscar Darmawan as the CEO of Bitcoin Indonesia also said that bitcoin is not a legal payment instrument in Indonesia, bitcoin is a digital item not a currency so Bitcoin can move freely as a tool sale of stock exchanges in Indonesia

bitcoin in Indonesia is prohibited from being a payment instrument because bitcoin cannot replace rupiah, but the Indonesian government does not prohibit the existence of bitcoin.

in Indonesia bitcoin has not been legalized. the government still takes into account the existence of bitcoin. but Indonesians also use bitcoin but in every transaction they must first exchange bitcoin with the rupiah. The Indonesian government does not directly prohibit the use of bitcoin, but they only warn people because of the high risk of bitcoin. I think there will be no impact at all because Indonesia is not a country that has a large volume of crypto transactions.

Bitcoin in Indonesia is not legal ONLY for buying stuff but don't give me wrong that we can be trading it on the crypto market. If we want to buy stuff we must sell it and convert it to fiat or local currency (Rupiah) and then we can buying stuff.

Bitcoin is not legal in Indonesia but if we look over all bitcoin is not legal in some other countries as well and bitcoin usage is not affected by that if it is not legal still it is using for various purposes and the trade facilities which provide bitcoin to it's users are good and it is open for every one and bitcoin issue about it's legal status of bitcoin in the future will resolved and once again the bitcoin demand will be more than ever in the history and people will happily hold it for future.

I think in Indonesia only recognizes bitcoin as a digital asset and prohibits using bitcoin as a sale and purchase transaction.
because in Indonesia it is afraid that crypto will be misused for corruption and as a terrorist financing transaction.

It's ok if Government not recognize bitcoin as legitimate payment. At least we people still can use it even only as digital asset. It is still better than if government really ban bitcoin and not let their people to use or have it.

not legalized in terms of transactions, but you can still trade in exchange by selling and buying bitcoin, because what I know is that the Indonesian government prohibits transactions using bitcoin, so if you are a bitcoin trader it doesn't matter

Indonesia's potential is very large and this digital currency cannot be eliminated. The government considers bitcoin to be unlawful because of money laundering, crime transaction tools, etc. the government doesn't see the positive side of blockchain technology itself.

yes because of the laws governing currencies, bitcoin cannot be used as a payment transaction tool, indeed in Indonesia bitcoin has not been legalized but if it is invested as an investment such as gold it is not prohibited, this certainly affects the bitcoin users in Indonesia, but if for global I don't think it has too many effects

Bitcoin is already gaining prominence in some countries, e.g Korea, Japan, US, Germany, while others such as India, Indonesia, China etc are placing restrictions on the use of bitcoin as a legal tender, Eventually those at the odd side of the divide (those against it) will eventually have a rethink and relax the rules

In February 2014, "The Bank Sentral Republik Indonesia" announced that digital currencies are neither currency nor legal payment tools in Indonesia. It also advised people to stay away from Bitcoin and other virtual money. And since then no action has been taken by the government.

Bitcoin was only for those who really appreciate the usefulness of it. Although Indonesia wasn't yet adopting the system of bitcoin yet, it doesn't mean their government was into banning plans for digital currency, but I think there's a big plan that this country will soon legalize bitcoin.

The Indonesian government issued a regulation if all transactions in any form must use rupiah cash, in the past in Indonesia many sellers have offered payment using bitcoin but for now it cannot happen and until now even all types of transactions must use rupiah cash.

The local exchange is already setup pair BTC-Rupiah. Every one who like to buy they will buy will local currency. If you think will give negative impact to BTC market i don't think so because cryptocurency market is still low in Indonesia.

Indeed, in Indonesia, Bitcoin is not legal, but I don't think it affects the price of bitcoin because the transaction volume is still small. If I am a private bitcoin I make an investment.

There may be separate reasons why the Indonesian government still cannot accept bitcoin, but for now bitcoin is not yet acceptable because in Indonesia it issued a regulation if the transaction must use rupiah. Maybe someday the government can accept bitcoin so that the Indonesian population is easier to use, so the use of bitcoin will be more sustainable.

bitcoin Indonesia is not illegal because bitcoin is only digital money and there is nothing dangerous with bitcoin. because bitcoin is a lawful job and does not harm yourself and others.

Bitcoin is also not legal in my country.Buying and selling is also prohibited.But in my opinion it will be changed over time.
Governments are doing these because they are fearful of blockchain technology.Goverment created a centralised system which creates crisis in society.

perhaps these measures are temporary, and therefore the moment of their cancellation may lead to growth

In my opinion, this is only temporary, I think they have some conflicts that the state is rational handling. This situation will end in a short time when the state finds a specific cause and along with their BTC regulations. As far as I am aware, other countries not only Indonesia will have regulations for BTC when entering the economic sector of that country.

Bitcoin is legalized or not legalized in any country that does not overwhelm it. Bitcoin uses the Blockchain platform. It transparently deals with keeping people together, but it guarantees identity security so the government can not control the Bitcoin owner, who thinks the ban does not affect it too big for it.

yes bitcoin not legal yet in indonesian, i think it just many store in indonesian not accept bitcoin yet for payment... but if you transactions with people who knows cryptocurrency i think it permitt.... so sad about goverment not accept bitcoin though in fact bitcoin is new thing from modern world, but no worries in my opinion bitcoin will be use many people or all people in the world include indonesian for transactions

in my opinion this is not true, where I have been searching for news about illegal bcc I have not found, and moreover there is no prohibition to buy or sell using the rupiah, and moreover it seems that the Indonesian government also never forbids its citizens to use sell or buy btc , you give news like this is worthy of questioning where do you get that from?

Indeed, it has not been recognized for the Indonesian state, but there are PTs that manage crypto, besides that the community is quite a lot. INDODAX as proof that Indonesia has an exchange that is able to provide satisfaction to the Indonesian community.

I try to understand what you are saying, and indeed bitcoin in Indonesia is not legal, but it is also not illegal. This means that in Indonesia there are no legal rules governing the use of bitcoin, but also there is no legal rule that prohibits the use of bitcoin. Thus means in Indonesia it is still permissible to use bitcoin, but does not get legal protection from the country, where when we lose the bitcoin that we have or stolen by someone else, and there is a fraud against bitcoin that we have, the state will not compensate for the loss, and we cannot ask the state to solve the problem. This situation in my opinion will not have much effect on bitcoin, because Indonesia is also not the biggest majority of the use of bitcoin.

It seems like there are a lot of indonesians on bitcointalk.  Even if it's banned they can still trade it online without the government knowing.  Since wages in their country are so low they can make more here.

In principle, Indonesia prohibits bitcoin as a means of payment, because in Indonesia all payments must use rupiah. However, does not prohibit bitcoin as an investment, because the role of the government only warns of the impact of bitcoin, such as the protection of bitcoin owners, high volatile prices, the risk of bitcoin theft, and anonymous factors that criminals can use.

Although there is no regulation for bitcoin in Indonesia, as far as I know, there are no laws or government regulations or regulations that state that bitcoin is illegal in Indonesia. Evidently, until now people are free to trade bitcoin in Indonesia. If there is a rule that bitcoin is illegal, I believe. Surely there will be no people who sell or buy bitcoin in Indonesia  :)

They already have regulation in Indonesia and it is in a form of memorandums being given by their Central Bank which is called Bank Indonesia, so there is no need for rules or laws as memorandum just like in any other country is still good as a law and is binding in front of the court. So if you are planning to use Bitcoin in Indonesia as a form of payment think again, it might be an entrapment operation set by their government which could probably make you end up in jail and serve some time.

Not yet" Indonesia not banned in Bitcoin and it have yet use legally,I do not come this country but basically I have read some articles response about Bitcoin in Indonesia.

Indonesia is not such a big country to have a serious impact on bitcoin. Therefore, its ban will not have much importance for the crypto-currency world, although this news is still negative.

For now it may still be said to have a negative impact, because in Indonesia, the regulation on asset payments every year will be very difficult to track if the people in Indonesia divert their assets in bitcoin.

Undoubtedly, this is not the most pleasant news for bitcoin, but I hope that after a certain amount of time the government of this country will understand that there is nothing to fear, the cryptocurrency does not carry any threat and will accept this technology.

I am an Indonesian ... in Indonesia bitcoin is still banned by our government, but there are many people who are interested and bitcoin players and some secretaries of the state already know about bitcoin ... and I hope that in Indonesia it can be legalized soon.

Not only in Indonesia but in many countries Bitcoin is not legal yet, I am from India and here even local Bitcoin exchanges are not allow to send or receive money from any of nationalize bank but I think its does not affect Bitcoin value, people are still investing into bitcoin, all transactions in any country can be done thr local currency and local currency can be purchased against bitcoin, I hope governments will realize the power of blockchain concept one day.

It is true that bitcoin in Indonesia is illegal. This means that in Indonesia there are no legal rules governing bitcoin, but there is also no government ban on the use of bitcoin. This shows that bitcoin in Indonesia is not protected by the government but not banned, and every bitcoin user is responsible for the bitcoin problems they face, such as theft and so on. If this is the case then it will not have a negative impact on bitcoin and in my opinion it has a positive impact where bitcoin can develop in Indonesia, and now it appears that many Indonesians have bitcoin and do bitcoin transactions in Indonesia.

Bitcoin's illegality can only be enforced if people perform transactions on exchanges. Governments can shut them down. Once these are no longer necessary governments won't be able to have any power over its use aside from preventing brick-and-mortar shops from accepting bitcoin, places where less and less people make purchases.

indeed bitcoin in Indonesia is still illegal, but in my opinion it doesn't matter because the government hasn't banned bitcoin. in Indonesia we can still search for bitcoin, although bitcoin cannot be used like the rupiah. although illegal, there is no influence for crypto investors.

Whether the outcome is good or bad, it cannot last. Many governments in the world are closing the door on crypto currency as they perceive a threat to their banking systems. But the fact is, crypto currency is here to stay. It's only a matter of time before it's adopted on a widespread basis. So my advice to you is to wait and watch.

Bitcoin is not yet a legal currency in many countries, but this does not prevent people living in such countries from continuing to use cryptocurrencies. No one can forbid you to have internet at home. And in order to use cryptocurrency, you only need the Internet and nothing else.

Indeed, bitcoin in Indonesia is not legal, but it is not prohibited. It can be used as an investment, but all the risk of loss is borne alone because the government considers bitcoin to be too high in fluctuations. Even in Indonesia there is a place to exchange bitcoin for fiat money.

I don't see how they can enforce such a law, there are many street markets in Indonesia and they are unable to collect taxes and monitor what people use for payments.

For bitcoin, of course it will have a bad impact because with this rule, it is possible that bitcoin will not develop very rapidly in Indonesia. But for the Indonesian people, it might be the best way for the government to protect its citizens. We should obey the government and trust them with all the rules they made. At least we still can use crypto as an asset.

Not only Indonesia but many countries around the world are taking steps to stop Bitcoin development because the government says that if btcoin develops too strongly they could threaten the viability of money. paper as well as the benefits that the government receives from central banks from borrowing money

That's not true in my opinion, because if bitcoin is illegal, of course there will be a lot of convenience that will be given to bitcoin to move freely to the community. The government is still overseeing or monitoring the existence of bitcoins that are currently in demand by the people of Indonesia and this has no effect, bitcoin will still be sought after by many people.

I agree with you, legal or illegal bitcoin in Indonesia has no impact on the current market conditions, but will have a positive value if payments can be made with Bitcoin because it will indirectly introduce bitcoin to the public who do not know about the existence of crypto currencies .

Is it true? If it is then I must say that many people of Indonesia must be very sad because I  know many of them are very interested in crypto currencies and like keeping them up to date with technical advancement.

The currency of the Republic of Indonesia is rupiah, so of course all buying and selling transactions in Indonesia are more applied to the use of the rupiah. I have not seen any legal rules that prohibit the use of bitcoin in Indonesia, and I have also never heard a law that requires the use of bitcoin in Indonesia, this means that in Indonesia every citizen can still buy or sell bitcoin transactions, but the country will not guarantee the rights of every bitcoin user if there is theft or fraud against everyone's bitcoin assets. Of course, the freedom to use bitcoin in Indonesia for me has a positive impact, where bitcoin can develop better in Indonesia and also shows that the state gives freedom to every citizen to invest in bitcoin.

The thing is the indonesia goverment just forbid us from using bitcoin as a payment/transaction currency in this country, only IDR is allowed. But you still can sell your bitcoin for IDR and use it.
There was a case where there are some people in Bali use Bitcoin to pay travel and hotel service and the government rebuke them.

which I know the Indonesian government only refuses to use bitcoin for payment instruments. but for investment and bitcoin trading it is still permitted. but if one day the Indonesian government banned crypto trading I thought this would not have a major impact on crypto. because the volume of crypto trading in Indonesia is not large. and also I think Indonesia will not ban crypto trading because Indonesia is a democratic country and there are quite a lot of users of bitcoin in Indonesia. if the crypto trade is banned, surely the bitcoin holders will protest.

according to the news that I know, it is indeed illegal, but also not illegal, because I feel that they only warn crypto users that the risks they will receive, the state is not responsible for that.

yep indeed like that, and what is forbidden is to trade using other bitcoin and coin cryptocurrency, because the regulations in Indonesia are very strict not only cryptocurrency which is prohibited from being used for transactions like other currencies dollars is also not allowed in Indonesia, because regulation in Indonesia only use the country's currency to transact buying and selling in the country of Indonesia.

in my opinion it will not have an impact on bitcoin even though bitcoin users in Indonesia are quite large, but we can still use bitcoin in trade, what we have to do is wait for government policies to change about bitcoin, so we can use bitcoin for payments before government

absolutely right, the Indonesian government has not agreed to legalize bitcoin as a digital currency, arguing that bitcoin has a changing value with very high risk, but the crypto market is still a way in Indonesia

In Indonesia there has been no official decision regarding crypto circulation so that no one can declare legal or illegal. Indonesian society is waiting for the government's decision, this is because the government will determine how the best regulations might be made to be able to support crypto users and how to make the country's economic system stable.

99% people from this thread are come from indonesian, lol.
It's almost worthless to complaining or whining on here, just speak with the goverment you mean and see how it goes.

I do not know whether Bitcoin is legal in Indonesia or not. If Bitcoin is not legal. So this is a very bad news. Because of this Bitcoin and our loss is due. But Indonesia's Bitcoin is not granted legal recognition, but the government is also not getting any benefit from it.

I think now that it has not had any impact on the progress of bitcoin, because the rupiah is already attached to the Indonesian state, and is the country's currency. so I don't think it's influential, which is very influential in legalizing and not legalizing the government.

i think country like Indonesia should accept the bitcoin  because to take it has advantage ,utilize the technology and to grow economically .

In my opinion it is very unfortunate if the government in Indonesia has not legalized bitcoin because in my opinion bitcoin can bring benefits to its users. Maybe if the government is willing to accept and legalize bitcoin in Indonesia, the economy in Indonesia might be even better.

Illegal?
It depends on what you do with your money!
If you hold bitcoins in your wallet you don't give a shit about people saying it's illegal ^^
Nobody will ever know you own those BTC !

To put things into perspective, most country governments do not support the use of bitcoin because it is decentralized and impossible for them to control. But decentralized blockchain and crypto is a market by itself. The moment the demand picks up... more people will want to come in.

So it doesn't matter how much of regulation  they want to impose. Because they can only control centralized cryptos, which is not going to be high in demand.

I agree with you. The number of cryoto transaction in Indonesia is very big, I don't think the legalization in Indonesia can impact to crypto's price

My prospective Bitcoin can't Legal or illegal in Countries because It's a Blockchain technology not their Property They can do anything with blockchain technology it because it works itself.

So they can try to Stop Buy Selling Ways that is in their hands.

So I mean Bitcoin is Legal Everywhere it's Government property.

Even though in Indonesia the bitcoin is not legal, but i think soon it will become legal there and all the other countries as well.

In Indonesia, people can not use bitcoin for paying goods in merchant because government not regulating yet. But Indonesia have local exchanger, thats mean bitcoin is like commodities and people can trade legally

in my opinion if it's true like that, the news will have no impact for bitcoin users in Indonesia. because the government only regulates not to buy and sell using bitcoin, but does not ban bitcoin in Indonesia. even though bitcoin is not able to buy and sell in Indonesia, but bitcoin users in Indonesia can still use bitcoin for investment, so the decision has no impact on bitcoin users in Indonesia.

you can't use bitcoin payment in Indonesia because indonesia have Rupiah for buy and sell product Around teritorial of Indonesia. when you use bitcoin for payment, that's Ilegal. Bitcoin can use just for investment Instrument. you can keep your bitcoin into exchange or your own wallet, but dont use it for buy something like smoke, hotel, tiket,etc in Indonesia.

For my own knowledge is that the government of indonesia is setting up a regulation to somehow legalize or implementing bitcoin as a legal and as a currency, 30% i think of the people of indonesia has using bitcoin illegal.

bitcoin is not legal in Indonesia in the sense that there are no binding regulations yet, but bitcoin is also not illegal while they comply that the only payment element received in Indonesia is the rupiah. so you are still allowed to do digital bitcoin investment / trading activities. but you are not allowed to buy products or goods using bitcoin. The government's decision is still unclear about the future of bitcoin, but what I know for sure is that the Indonesian president Mr. Joko Widodo made a speech that blockchain is a technology that must be accepted and faced by all Indonesian people, maybe this could be a positive sign.

It's true, bitcoin in Indonesia is not yet considered legal. But, as long as there is no prohibition on having bitcoin. For me, that doesn't matter. I believe, as time goes by. One day, the Indonesian government will legalize bitcoin, although not as a means of payment

Yes, I see that Indonesian government tends to be too late in accepting an innovation that was born to facilitate financial transactions using Bitcoin. I really appreciate that the Japanese government has legalized Bitcoin in its country, so it is very transparent for Bitcoin users and the government. Hopefully in the future the Indonesian government can legalize Bitcoin.

In Indonesia there is no official rule from the government regarding the legality of bitcoin ... the government only prohibits using bitcoin as a transaction tool in Indonesia and the government also warns to bear all risks for the bitcoin users themselves...

a number of Bitcoin users in Indonesia have already more and more and unfortunately Indonesia still has not legalized Bitcoin as a digital currency in the crypto world. nothing can prohibit people for owning Bitcoin as long as there is still the internet world to access it. yes I also believe that in the future Indonesia will legalize Bitcoin because digital currencies can help the economy of the people and can to be as a valuable asset in the future.

Its true in Indonesia, Bitcoin is not legal for used in transaction. But in Bali island, most people in there using Bitcoin for transaction

I'll tell you a big secret but bitcoin in many countries is not legal

there will be no impact at all
Indonesia is not a country that has a large volume in crypto transactions
so i don't think it will affect the price of crypto at this time
[/quote]


I agree with you there nothing impact price effect in cryptocurrency and nothing update about indonesian government about cryptocurrency legalization.

As i know last i heard government of indonesia warning for their peoples about using of crypto is dangerous because not stable currency and indonesian believe using crypto is looks  like betting in gambling.

Please correct if i am wrong.