[6-2-2014]- ET: Indonesia bans use of Bitcoins, other virtual currencies

[BTCIndia]

No. 16/6/DKom​​​
 
In view of the Act No. 7 Year 2012 concerning Currency and Act No. 23 Year 1999 which has been amended several times, the latest with Act No. 6 Year 2009, Bank Indonesia states that Bitcoin and other virtual currency are not currency or legal payment instrument in Indonesia.
 
The society is encouraged to be careful toward Bitcoin and other virtual currency. All risks related to the ownership/use of Bitcoin should be borne by the owner/user of the Bitcoin and other virtual currency.

 
Jakarta, 6 February 2014
Communication Department
 
 
Peter Jacobs
Director

Read more: http://economictimes.indiatimes.com/news/international/business/indonesia-bans-use-of-bitcoins-other-virtual-currencies/articleshow/29951434.cms

[buysellbitcoin]

Litterally ET, literally this is how you spread FUD.

Bitcoin is not banned in Indonesia.

Regards

[asif-malik55]

Hi,

I just read this thread and wanted to share my 2 cents

Indonesia is making business easier for foreign investors in Indonesia and that also includes businesses related to Bitcoin. You can see a YouTube video here where new regulations for businesses are explained in detail as the OmniBus law came into effect at the start of 2021: https://www.youtube.com/watch?v=LZ6EhV-RDQw&t=6s

Actually trading Bitcoin in Indonesia is already legal HOWEVER at the moment it is not possible to use Bitcoin as a Currency which basically means Bitcoin or other cryptocurrencies cannot be used as a form of money to pay for goods or services. Nevertheless, we hope things will get better in Indonesia.

If you wish to start a business in Indonesia, I would highly recommend consulting MAM Corporate Solutions. They can advise you on the Bitcoin regulations as well as other compliance related issues in Indonesia. You can visit them at https://mamsolutions.net

Thank you and best regards