Topic: Cryptocurrency as Commodities in Indonesia. - page 2. (Read 221 times)
For now, indonesia is not regarded as a cryptocurrency friendly region. The Bank of Indonesia does not acknowledge cryptocurrency as legal tender for goods and services rendered. This situation can also be observed in Russia, where the central bank refuses to recognize cryptocurrency, while politicians and government departments attempt to regulate and promote it.
just goes to show they dont even know what a commodity is
a commodity is a raw material used in the creation of other products (EG oil=fuel, what=bread, gold=curcuits)
bitcoin is an asset.
by adding things as a commodity thats not a commodity is just wrong.. not just for mis-representing what crypto is. but also muddying the water of what commodities are.
For me the wrong response is the usual thing, they can assume that crypto is a commodity or nota commodity is a raw material used in the creation of other products (EG oil=fuel, what=bread, gold=curcuits)
bitcoin is an asset.
by adding things as a commodity thats not a commodity is just wrong.. not just for mis-representing what crypto is. but also muddying the water of what commodities are.
IMO. the most important thing is they legalize crypto, we have a chance to prove that crypto is an asset or digital currency if they do it
bitcoin is an asset
It can also be categorized as a commodity though because it can also be defined as "a useful and valuable thing" according to Meriam Dictionary.I thiink that it might serve as a sign to other countries to legalize Cryptocurrency in their countries.
It won't because the other countries who have legalized bitcoin and crypto are far more influencial than Indonesia, but other countries are not yet deciding to follow into their footsteps maybe because they are researching more about it.
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.
just goes to show they dont even know what a commodity is
a commodity is a raw material used in the creation of other products (EG oil=fuel, what=bread, gold=curcuits)
bitcoin is an asset.
by adding things as a commodity thats not a commodity is just wrong.. not just for mis-representing what crypto is. but also muddying the water of what commodities are.
a commodity is a raw material used in the creation of other products (EG oil=fuel, what=bread, gold=curcuits)
bitcoin is an asset.
by adding things as a commodity thats not a commodity is just wrong.. not just for mis-representing what crypto is. but also muddying the water of what commodities are.
Indonesia can become a world center of cryptocurrency if legalized bitcoin
I think sooner or later some country will do it and the economy of this country will grow by 1000%
I think sooner or later some country will do it and the economy of this country will grow by 1000%
Legalization of bitcoin in Indonesia is a good move by the government and it will attract a lot of investors to get involve in cryptocurrency. For it serving as commodity is an option to people who will assume it otherwise
Well, as per I know cryptocurrency is banned in Indonesia. But if in recent times they are telling it as a commodities I think it is a positive side that in coming future they will accept as a digital currency.
As as long as a government don't try to make using cryptocurrencies difficult for people, it's good. There is no difference they know bitcoin or other cryptocurrencies as a currency or a commodity. Users decide what is bitcoin when they are using it.
for now Indonesia still does not support crytpocurrency officially and yet also strictly prohibits.
but Indonesia should be able to imitate developed countries such as japan that legalize bitcoin and russia that begin to side with cryptocurrency.
but Indonesia should be able to imitate developed countries such as japan that legalize bitcoin and russia that begin to side with cryptocurrency.
According to Bitcoin.com
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.
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.
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