Bank Indonesia has taken a strong stance against cryptocurrencies - it recently called on all citizens of the country to refrain from selling, buying or owning tokens.
"Stocking cryptocurrencies is very risky in itself, they are often used for money laundering and terrorist financing, so they can harm the stability of the financial system and the integrity of society. We encourage all citizens to invest not in unstable digital currency, but in legitimate assets that can benefit the Indonesian economy," the bank said in a statement.
Earlier in January this year, Indonesia banned all companies whose activities are related to cryptocurrencies, but this law did not directly prohibit the trade and exchange of digital currencies. A major crypto exchange with over 950,000 clients, PT Bitcion Indonesia continues to operate. The company's CEO, Oscar Darmawan, wrote on social media: “The exchange will continue to operate as usual because we are more of a blockchain company than a cryptocurrency company.”
Not all Indonesian officials support the ban. The head of the country's investment board, Tom Lembong, supports Bitcoin, calling it "a 100% solution to most of today's market problems, created spontaneously by consumers and innovative technologies."
According to https://www.bloomberg.com
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