So what if the people in Indonesia decided to trade with each other using
dried bird shit instead of the Rupiah? Would that make the government go after those people who are holding
dried bird shit in their pockets?
I reckon it might be illegal for them to criminalize bitcoin or the use of bitcoin without any laws defining what it is. Bitcoin might be nothing but
dried bird shit after all hehehe.
Bank Indonesia has warned that cryptocurrencies may not be used for payments in the country.
The central bank published a press release on Saturday, stating that cryptocurrencies are not a "legitimate instrument of payment" in the country, as they do not comply with the 2011 currency act and are not issued by the Republic of Indonesia.
"Financial transactions conducted within the territory of the Republic of Indonesia, has to be fulfilled with Rupiah," the currency act states.
As a result, the central bank said that payment firms are not allowed to make virtual currency transactions.Read in full https://www.coindesk.com/indonesias-central-bank-cryptocurrency-payments-not-legitimate/
