Bank Indonesia Tracks The Bitcoin Users Of Indonesia

Representative Office of Bank Indonesia of West Sumatra tightened supervision to prevent any transactions using virtual currency. So the use of Bitcoin and the like is not more prevalent in Indonesia.

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In addition to supervision, Bank Indonesia also appealed to the public not to use virtual currency as a means of payment or investment tool. Because it is very risky and full of speculation because there is no authority responsible for it..

In fact, there is also no official administrator and there is no underlying asset underlying the price of virtual currency and the trade value is very volatile. Thus, its use is highly vulnerable to the risk of inflation and is prone to use as a means of money laundering and terrorism financing

Bank Indonesia as the monetary authority, the stability of the financial system and the payment system has always been committed to maintaining financial system stability, consumer protection and preventing money laundering and terrorism financing practices.

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