Bitcoin in Indonesia is not legal

[A Feeder]

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.

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[MightyTulip32]

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.

[Om.monata]

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.

[badakjawa]

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

[kemonojim]

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.

[Dr.Osh]

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.

[NavigateSamurai055]

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.

[Btcvilla]

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 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.

[WiseFoxxy]

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.

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.

[aleksej.rozhkov]

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.

[BigBlackSheep57]

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.

[mamacitosi]

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.

[shampapk1988]

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.

[killerfrost]

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.

[zwiggel]

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.

[nostrings]

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.

[becak mesin]

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.

[trimulia]

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

[bitterdog]

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 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.

[$$$sparkles$$$]

Bitcoin in Indonesia is not legal yet

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!

the government has given regulations so that all trading activities must use the rupiah. will this be a negative or a positive impact?

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.