After two years of Ban, Indonesia recognised Bitcoin as Commodity

But still Cryptocurrency can not be used a payment instrument for payment settlement in the Country

Indonesia banned Bitcoin and Cryptocurrency in 2017, Finally after two years of ban, it recognised officially Bitcoin and other cryptocurrencies as commodity. It means you can trade it in the country.

But cryptocurrency exchanges must have to fulfil certain measures and criteria to satisfy concerned authority to operate in the country.

The Indonesian Trade Ministry Futures Exchange Supervisory Board (Bappebti) issued regulation No.5/2019. which recognised Cryptocurrencies as commodities. Its also includes regulations for cryptocurrency exchanges.

According to new ruling, Digital currency trading is now legalised in the country in form of future trading only.

The Chief Economic Minister for Economic Affairs, Darmin Nasution talked about Bitcoin usage in Indonesia. Darmin told CNBC Indonesia that Bitcoin and crypto ban imposed during 2017 won’t be lifted as Reported today, on Feb 15, 2019.

Darmin also stated :

"Not the government as a whole. Bank Indonesia also does not regulate crypto money as a currency. That is what our futures exchange does is not as a means of payment. As goods are traded, if you want to buy, just buy it. "

#Bitcoin #Indonesia #Cryptocurrency #CryptoTrading #FutureTrading #CryptoExchange #BEI24Disclaimer & Suggestion : Please always to your due diligence before investing in any cryptocurrency or project.