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Jakarta Post
The Jakarta Post
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BI bans Bitcoin, demands fintech firms to register

  • Winny Tang

    The Jakarta Post

Jakarta | Fri, December 8 2017 | 12:28 am

PREMIUM Bank Indonesia (BI) has taken a strong stance against the widespread use of virtual currencies, including Bitcoin, as a method of payment due to the fear of volatility they can bring to the economy.The prohibition has been set in the central bank’s new regulation, called the PBI No. 19/12/PBI/2017 on the implementation of fintech, slated to come into effect on Jan. 1, 2018.In the new regulation,...