In Indonesia, Bitcoin is Forbidden Because Considered Like Gambling
Dear All Steemian !
Today I will share you the information about Bitcoin condition in Indonesia.
The Indonesian Government firmly forbids transactions using Cryptocurrency one of them Bitcoin, although currently the regulations on Bitcoin are still under review. The prohibition was made because of the element of gambling in Bitcoin.
The Financial Services Authority (OJK) says that Bitcoin is like a gambling game, where the profits are uncertain. The luck factor becomes the determinant, there are times when the profit multiply and there are times when loss, it will be very loss.
To that end, the government appealed to the people of Indonesia not to use Bitcoin in transactions. " Indonesian of Bank has strictly prohibited payments using Bitcoin, as well as the Financial Services Authority.
This is due to the development of Cryptocurrency or Bitcoin no regulators are watching. In addition, no party can ensure its safety.
Bitcoin prices are also very volatile and have the potential to cause significant losses for investors, and there is no legal certainty. "Bitcoin, the price skyrocketed to USD19,000 last December, dropping to $ 6,000 in mid-January 2018 and this week around USD 11,000. The phenomenon is very sad for investors if the price plummeted again.
Nevertheless, the Government of Indonesia through the Financial Services Authority and Bank Indonesia continue to conduct digital money-related assessments including Bitcoin into commodities.
Article Source : https://goo.gl/VUwgzu
This is the information from me today, hopefully usefull !
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For future viewers: price of bitcoin at the moment of posting is 8419.80USD
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STOPIs gambling also prohibited in Indonesia? Don't Indonesian people play online casinos? This is my kind of hobby, I do it for fun only. I do not spend a lot of money, I keep it in the balance because I also get some income. When I visited Bali I played qqdomino.bet using VPN. So, was that illegal?