Bank Indonesia Prepares to Issue Digital Rupiah as Legal Tender for Digital Payments

Bank Indonesia Prepares to Issue Digital Rupiah as Legal Tender for Digital PaymentsThe central bank of Indonesia is working to issue a wholesale digital rupiah. The new currency is meant to be the only legal tender for digital transactions in the country while the regulator also wants to ensure that it will be exchangeable across borders. Digital Rupiah Concept Expected by Year End Indonesia’s monetary authority is […]

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Indonesia’s Central Bank Considers Issuing Digital Currency to ‘Fight’ Crypto

Indonesia's Central Bank Wants to Issue Digital Currency to 'Fight' CryptoBank Indonesia, the country’s central bank, is reportedly considering issuing a central bank digital currency (CBDC) to fight the use of cryptocurrency. “A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto,” said an assistant governor of the central bank. Central Bank Sees […]

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Indonesia to Regulate Cryptocurrencies as Commodities

Indonesia to Regulate Cryptocurrencies as CommoditiesCryptocurrencies 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. Also read: Crypto […]

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Soon There Will Be More Bitcoin Investors Than Stock Traders in Indonesia

Soon There Will Be More Bitcoin Investors Than Stock Traders in IndonesiaDespite repeated warnings from the central bank of Indonesia about the supposed risks of cryptocurrency trading, everyday people keep turning to bitcoin in this highly populated Asian country. In fact, soon there will be more traders on just one crypto platform than there are on the local stock exchanges established over a 100 years before […]

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Crackdown on Bitcoin Hits Businesses in Bali

Crackdown on Bitcoin Hits Businesses in BaliHaving issued a stark warning to “all parties” against any use of “virtual currency”, Bank Indonesia has now joined forces with local police to prevent bitcoin transactions where they are most likely to take place – in Bali. The island, a popular holiday destination with tourists spending both fiat and crypto, has been targeted by […]

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Bank Indonesia: Do Not Sell, Buy, Trade Cryptocurrency

Bank Indonesia: Do Not Sell, Buy, Trade CryptocurrencyBank Indonesia, Unitary State of the Republic of Indonesia’s central bank, has issued perhaps its bluntest statement yet on curbing the use of cryptocurrency, affirming a hardening stance on the popularity of what it refers to as “virtual currency” such as bitcoin. Also read: Ditch University and High Transaction Fees! Bank Indonesia Warns All Parties […]

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