TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Bitcoin to run '€˜vending machine'€™ in RI: CEO

Bitcoin Indonesia has dismissed rumors that it will launch its first-ever ATM in Bali this year

The Jakarta Post
Jakarta
Wed, September 10, 2014

Share This Article

Change Size

Bitcoin to run '€˜vending machine'€™ in RI: CEO

Bitcoin Indonesia has dismissed rumors that it will launch its first-ever ATM in Bali this year.

According to Bitcoin Indonesia CEO Oscar Darmawan, the company will instead operate a bitcoin vending machine, which will allow users to purchase bitcoins for a variety of purposes. '€œThe machine will not dispense money like regular ATMs, but instead it will dispense bitcoins. So, the term '€˜vending machine'€™ is more appropriate than '€˜ATM'€™,'€ he said on Tuesday.

He added that one such machine had been installed at the company'€™s headquarters in Bali, but the firm was awaiting clarity from the government regarding the bitcoin'€™s status before launching the vending machine.

'€œWe want to comply with the law, but we'€™re not sure yet where we need to apply for the relevant license. If we are acknowledged as a financial company, we will apply for a license to BI [Bank Indonesia] or the OJK [Financial Services Authority],'€ Oscar said.

Contacted separately, BI spokesperson Tirta Segara said the central bank did not oversee the operation of vending machines and emphasized that the rupiah was the only legal currency in Indonesia.

 

{

Your Opinion Counts

Your thoughts matter - share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.