The central Bank of Indonesia plans to ban Bitcoin in 2018

The central Bank of indonesia is planning a regulation to completely ban crypto-currencies such as Bitcoin. The movement is thus accelerated, since it was learned that trading platforms in indonesia have put the key under the door.

The central Bank of indonesia tightens rates

Bank Indonesia (BI), the country’s central bank, is in the process of developing a regulation to completely prohibit all forms of crypto-currency. Whether it be their trade or their use in different kinds of transactions. This is what was said by Agus Martowardojo, the governor of the BI. According to the daily Pikiran Rakyat, the first head of the BI has made this revelation at the annual meeting of the central bank. “Regulatory paralysis was necessary to maintain the sovereignty of the rupee as a legal currency in the country,” he added.


Additional restrictive measures

He also detailed the restrictive measures further taken by the bank, stating : “We will avoid also the arbitrage opportunities, the business practice unhealthy and trade controls by parties who are not legally authorized by the laws of indonesia. “The crypto-currencies, according to Agus Martowardojo, are also potentially used for the funding of terrorism and money laundering. Martowardojo further strengthens the hostile stance of the bank to the crypto-currencies after threatening Bitcoin users in the country

In addition, the new regulation, which is expected to be released in 2018, will also include the companies financial technology (FinTech) and the startups under its jurisdiction. The statements of Martowardojo about a future ban of crypto-currencies come a few days after that the financial regulatory authority of indonesia has urged investors to stay away from the international groundswell of interest in the crypto-currencies.

Source : Cryptocoinsnews