Bank Indonesia affirms that virtual currency including bitcoin is not recognized as a valid payment instrument, so it is prohibited to be used as a means of payment in Indonesia. This is in accordance with the provisions of Law no. 7 of 2011 concerning Currencies stating that currency is money issued by the Unitary State of the Republic of Indonesia and any transactions that have a purpose of payment, or other obligations to be fulfilled with money, or other financial transactions conducted in the Territory of the Unitary State of the Republic of Indonesia shall be obliged using Rupiah.