Did you know Exclusive News Central Bank of Indonesia warns: "Do not sell or do not buy digital currency"

In a press release issued at the end of the week, the Bank of Indonesia (BI) confirmed its long-standing position of refusing to recognize the "virtual currency including bitcoin" as a valid payment tool in the country. Moreover, the Authority warned all parties not to sell, buy or trade "digital currency after it was confirmed as a threat" to the stability of the financial system. The following is an excerpt from the general statement:

"The ownership of the virtual currency is highly risky and full of uncertainties because there is no authority responsible for it. There is no official official. There is no underlying underlying asset behind the price of the virtual currency, and the value of trading is very volatile and vulnerable to use as a means of money laundering and terrorist financing. May affect the stability of the financial system and public injury. Therefore, the Bank of Indonesia warns all parties not to sell, buy or trade the virtual currency "

The first general warning of the central bank against bitcoin came in early February 2014 and at that time, the central bank urged traders to be cautious of "bitcoin and other default work" while the bank insists on taking any risks associated with the ownership of bitcoin use. In October 2017, the head of the Central Bank threatened to act against Bitcoin traders after the prohibition of using digital currencies as a means of payment in full.

Asked if the comments could cause panic among Indonesians who already invested in digital currency operations, BI Agusman spokesman told Reuters: "They did not consult with us when buying digital coins ... Please help us to make people understand." The growing fear comes amid reports that the central bank is preparing regulations that would impose a blanket ban on all digital currencies in the country sometime this year.