According to Bitcoin.com
Cryptocurrencies in Indonesia will be regarded as commodities, according to a new decision by the country’s futures market regulator. It comes after a study concluding that digital coins deserve the commodity status. The government is expected to prepare a broader regulation covering other aspects of the crypto sector including trading and taxation.
What do you think will happen to cryptocurrency now that Indonesia is legalizing the cryptocurrency in their country? Even though they have stated earlier this year that they are banning Bitcoin?
I think that it will serve as a positive news to cryptocurrency and might help to gain a lot of new investors. Because of the study that Futures Exchange Supervisory Board (Indonesia) conducted in the past four months, they have concluded that Cryptocurrency is a commodity. I think that it might serve as a sign to other countries to legalize Cryptocurrency in their countries.
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This is a very good news that Indonesia 🇮🇩 has legalised bitcoin and obviously Indonesia has understood the real fate and potential of bitcoin and he also understood the thing that the illegal activities associated with bitcoin will only be stopped when countries will legalise it and the same thing is understood by other countries also who has legalised bitcoin and like all other bitcoin companies, Indonesia will also experience the boost in development of their countries and increase in GDP also.