Cryptocurrency as Commodities in Indonesia.

stayeduptolate

hero member

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Quote from: kjnfmplm on June 06, 2018, 09:05:42 AM

According to Bitcoin.com

Quote

Cryptocurrencies in Indonesia will be regarded as commodities, according to a new decision by the country’s futures market regulator. It comes after a study concluding that digital coins deserve the commodity status. The government is expected to prepare a broader regulation covering other aspects of the crypto sector including trading and taxation.

What do you think will happen to cryptocurrency now that Indonesia is legalizing the cryptocurrency in their country? Even though they have stated earlier this year that they are banning Bitcoin?

I think that it will serve as a positive news to cryptocurrency and might help to gain a lot of new investors. Because of the study that Futures Exchange Supervisory Board (Indonesia) conducted in the past four months, they have concluded that Cryptocurrency is a commodity. I think that it might serve as a sign to other countries to legalize Cryptocurrency in their countries.

This is the Source.

This is a very good news that Indonesia 🇮🇩 has legalised bitcoin and obviously Indonesia has understood the real fate and potential of bitcoin and he also understood the thing that the illegal activities associated with bitcoin will only be stopped when countries will legalise it and the same thing is understood by other countries also who has legalised bitcoin and like all other bitcoin companies, Indonesia will also experience the boost in development of their countries and increase in GDP also.

Bugsbey

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Quote from: kjnfmplm on June 06, 2018, 09:05:42 AM

According to Bitcoin.com

Quote

Cryptocurrencies in Indonesia will be regarded as commodities, according to a new decision by the country’s futures market regulator. It comes after a study concluding that digital coins deserve the commodity status. The government is expected to prepare a broader regulation covering other aspects of the crypto sector including trading and taxation.

What do you think will happen to cryptocurrency now that Indonesia is legalizing the cryptocurrency in their country? Even though they have stated earlier this year that they are banning Bitcoin?

I think that it will serve as a positive news to cryptocurrency and might help to gain a lot of new investors. Because of the study that Futures Exchange Supervisory Board (Indonesia) conducted in the past four months, they have concluded that Cryptocurrency is a commodity. I think that it might serve as a sign to other countries to legalize Cryptocurrency in their countries.

This is the Source.

What happen to Indonesia now is a great news for us crypto investors . The population if investors and crypto users are now growing which become impossibly a bubble.

BestBoardroom36

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Just think 1 minute about btc. It has over 300 billion market capital. Its now spreading thoroughly in every country. It is difficult to stop btc to reach to every people for its popularity.

MightyTulip32

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In Indonesia cryptocurrency is used as a commodity and has a strict regulation using cryptocurrency as authorised payment.So that it can't affect the exchange rate.

SmartMetro54

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Well at first they prohibit btc and now they are making btc as their commodities. I also heard the btc is now running in their dailies as headline.

InfiniteBlock560

newbie

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As far as i know the government of Indonesia didn't allow bts in their market. Now in recent days the government accepting btc as their commodities. It a good news for bts as well as Indonesia.

Johnzky

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If this will be true then one great thing for the Indonesian and of course for our fellow cryptonians .

Im wondering if all asian countries will have this same stand towards cryptocurrency maybe in just couple of years whole world will be acknowledged about accepting our community and may legalize bitcoin together with all crypto in their countries

btcluisdiki

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I think that would be a good news for the people of Indonesia to be involved in cryptocurrency community and I believe this will have greater impact to the cryptomarket economy in general due to additional investors that will actively participate. Also, It's high time for the people in that country to earn generous profit from their investment and they can also actively participate in this forum.

Rossy Akbar

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I don't really understand about bitcoin in Indonesia actually, some says they're banned by a nation banks there, but in other sides there are so many peoples become succes with bitcoin either in Indonesia. Anyway I think it would be good effort for Indonesia if bitcoin could maturate in there, because their economy nowadays was terrible.

shark69

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Quote from: kjnfmplm on June 06, 2018, 09:05:42 AM

According to Bitcoin.com

Quote

Cryptocurrencies in Indonesia will be regarded as commodities, according to a new decision by the country’s futures market regulator. It comes after a study concluding that digital coins deserve the commodity status. The government is expected to prepare a broader regulation covering other aspects of the crypto sector including trading and taxation.

What do you think will happen to cryptocurrency now that Indonesia is legalizing the cryptocurrency in their country? Even though they have stated earlier this year that they are banning Bitcoin?

I think that it will serve as a positive news to cryptocurrency and might help to gain a lot of new investors. Because of the study that Futures Exchange Supervisory Board (Indonesia) conducted in the past four months, they have concluded that Cryptocurrency is a commodity. I think that it might serve as a sign to other countries to legalize Cryptocurrency in their countries.

This is the Source.

In Indonesia cryptocurrency is referred to as a commodity to restrict from using cryptocurrency as a legal means of payment because it can affect the exchange rate of the currency decreases. In addition to the bank system can also be able to adopt the way the blockchain to apply to the banking system.

thevlox

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In Indonesia, for the use of cryptocurrency many strict laws. There are many countries who now have very strict laws and bitcoin.

Sam San

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Any bans do not lead to anything good and inhibit the development of society,it has long been known to all.It is good that Indonesia is making this step towards the crypto currency,I hope other countries will turn in this direction.

pooya87

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Quote from: kjnfmplm on June 06, 2018, 09:05:42 AM

~Even though they have stated earlier this year that they are banning Bitcoin?

that's the problem with the bitcoin-related media, it is filled with bullshit.
when price was above $10k and they were trying hard to push it down they started the bullshit campaign. in this campaign a dozen countries allegedly banned bitcoin. it got to a point where i once heard Japan has banned bitcoin Cheesy

as for what it means is just another country trying to define bitcoin and failing. they use commodity because they want to tax it easier. it is a start though and things can change in the future. we may soon see all the world accept bitcoin for what it really is: a currency.

andieoke

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In Indonesia, Cryptocurrency is still not legal and Indonesia does not allow transactions with bitcoins and other cryptocurrencies. however, the Indonesian government does not prohibit its community to move in Cryptocurrency, the Indonesian people are still free to do Cryptocurrency mining, Crypto trading, investment and so on. and indeed, a lot of Indonesians are looking for profit, after the emergence of this cryptocurrency.

sakahayang

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Called commodities or the other is not a problem, with the attention of the government alone is good enough. government response means a sign that bitcoin can be accepted in Indonesia, this should be good news for the bitcoiner in Indonesia

kok jujung

newbie

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As far as I know Indonesia does not prohibit but Indonesia also has not supported clearly, every month commodities in Indonesia do collecting activities together to discuss about bitcoin

zinson01

newbie

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If they open this platform for crypto then it will be great or their citizens also if they legalize this issue then people of Indonesia will be more benefited because they will earl lots of profit based on this crypto market will be benefited too we are hoping for the good news.

ubay

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Users bitcoin in Indonesia increasingly growing day, it proves that citizens of Indonesia are aware of blockchain technology, it's a good thing to remember with the support of users in Indonesia does not close the possibility of bitcoin can become a commodity even become legal.

freesia_pnp888

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no they're not going to legalize it sadly for you.

ajuelnah akun

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No matter what they think about bitcoin, they just want to benefit from bitcoin. They say bitcoin is a commodity but in reality they do not provide legal protection at all for bitcoin users. They just want to get taxes from the exchanger and I think this is totally unprofitable for bitcoin.
Authorized or not, the Indonesian community will still use bitcoin even though only through online stores.

Topic: Cryptocurrency as Commodities in Indonesia. (Read 221 times)