Topic: Indonesian Ban (Read 3529 times)
in every country has its own government. And the Indonesian government is still afraid of the risks that exist in bitcoin. So Indonesia still considers the bitcoin of illegal transaction tools and no taxes associated with bitcoin.
While Indonesia will likely ban bitcoin and altcoins in general, there is no way for the government to crackdown on citizens buying and selling on exchanges. They may only crackdown on bitcoin transactions between merchants and such.
Just like other countris, Indonesian was also in a lists of countries who will likely to ban bitcoin as we all know Indonesia is one of the top countries wherein bitcoin was widely using, so the government became alarmed with that and they begun to research about it, and as for them bitcoin was just a big mistake and just like a ponzi scheme as well so they don't trust it.Same goes to neighbouring country, which is Malaysia. Use of crypto in the country is on the rise, and I expect the central bank to introduce some sort of regulations in the coming months or so.
I read the news on the crypto blogs with a lot of information saying that many countries in Asia started issuing bans on Bitcoin. The countries there are more negative about Bitcoin and Altcoin that prevent investors from joining the crypto.
In Asia , Japan is the country which has legalized the cypto currency and making its way forward in this space. Their trade volume is huge and also it is helping their economy as well and their citizens as they get an opportunity to earn income from this cypto currency and in return pay the taxes to the government.
I read the news on the crypto blogs with a lot of information saying that many countries in Asia started issuing bans on Bitcoin. The countries there are more negative about Bitcoin and Altcoin that prevent investors from joining the crypto.
There are some countries that are not accepting bitcoin probably due to corruption that they will never say in the media. It's a sad thing, really.
Countries are not directly mentioning that they are going to ban the Bitcoin. Cryptocurrency are very risky trade them at your own risk, so i think government are expecting tax from the people who trading cryptocurrency.
Bank of Indonesia have put a complete ban on bitcoin currency from 1st January, 2018. Bank Indonesia head of transformation Onny Widjanarko said the regulation on e-money would be issued in the near future. He further appealed to vendors and merchants not to accept Bitcoin transactions stating that it would not be held responsible for any losses incurred. According to Indonesian government bitcoin is largely used in illegal activities like terrorism, money laundering, prostitution, and drug trafficking in their country.
Oh well, its really sad to see that a nation think that bitcoin is really used for illegal activities. They could at least put a tighter regulations on it instead of a total ban. Some of its Asean neighbors though are bitcoin friendly, that's why I'm still surprise to find out that Indonesian's government decision. Again, its not bitcoin's fault that criminals are taking advantage of its psuedo-anonymous nature, but there are a lot of cryptos suited for them. And the bottomline here is who are going to be affected? its their citizens who have been enjoying bitcoins for many years. And I'm sure that a lot of our Indonesians bitcoiners are really unhappy with the government decisions. I don't know if they can still go trade or purchase bitcoin around because of this news. But I'm sure that they will find a way, however, there are risk because once the government find it there's a penalty for sure. Just be careful.
Bank of Indonesia have put a complete ban on bitcoin currency from 1st January, 2018. Bank Indonesia head of transformation Onny Widjanarko said the regulation on e-money would be issued in the near future. He further appealed to vendors and merchants not to accept Bitcoin transactions stating that it would not be held responsible for any losses incurred. According to Indonesian government bitcoin is largely used in illegal activities like terrorism, money laundering, prostitution, and drug trafficking in their country.
While Indonesia will likely ban bitcoin and altcoins in general, there is no way for the government to crackdown on citizens buying and selling on exchanges. They may only crackdown on bitcoin transactions between merchants and such.
Just like other countris, Indonesian was also in a lists of countries who will likely to ban bitcoin as we all know Indonesia is one of the top countries wherein bitcoin was widely using, so the government became alarmed with that and they begun to research about it, and as for them bitcoin was just a big mistake and just like a ponzi scheme as well so they don't trust it.
While Indonesia will likely ban bitcoin and altcoins in general, there is no way for the government to crackdown on citizens buying and selling on exchanges. They may only crackdown on bitcoin transactions between merchants and such.
There are some countries that are not accepting bitcoin probably due to corruption that they will never say in the media. It's a sad thing, really.
More and more countries are banned bitcoin then this becomes a free publication that will make a lot of people curious and finally buy bitcoin, I think bitcoin banned from Indonesia will not affect anything because previously there has been the largest country of bitcoin users that is china.
And what happened after Bitcoin was banned in mainland China? Most of the users joined crypto-exchanges based in Hong Kong and South Korea. Exchanges based in South Korea in particular have seen their user base getting multiplied by many times during the past few months. The same will happen with Indonesia as well. The users will just join exchanges based in Singapore.
More and more countries are banned bitcoin then this becomes a free publication that will make a lot of people curious and finally buy bitcoin, I think bitcoin banned from Indonesia will not affect anything because previously there has been the largest country of bitcoin users that is china.
Every country have own decision about bitcoin, they have own reason to ban bitcoin not tobe used on their region, bitcoin can still use on their region but government do not have obligation to protect user bitcoin.
Countries are afraid about their economy. Governments think that bitcoin would decrease the average economy of their country. They are doing right in one sense but the government seem to be selfish they don't think that it facilitates the people and is helping them to do exchange easily and transfer money from one place to another but think only about the economy of the country. 
im indonesian and i know about this news, and right now the banning of bitcoin is for the transaction, because the transaction is can created by real money that distributed by central bank only. its okay if we trade and sell our bitcoin in indonesia
I am not surprised to hear that many countries are banning bitcoins. because sooner or later they will reopen the ban because they see great opportunities can be created from the existence of this crypto currency. although at first they felt threatened by the existence of crypto money
Any country that bans crypto currency is closing its door on future. Bitcoin represents more than just a digital currency. One can have a passive, conservative attitude towards this technology, but straight up banning it. Not wise, Indonesia.
I'm guessing that they will lift the ban in the near future after seeing all those missed opportunities.
I'm guessing that they will lift the ban in the near future after seeing all those missed opportunities.
Their country, their leadership that they've choosen, and now they've got to live with it unless their current government makes a 180 turn in their opinion on bitcoin. To be honest I'm not really fond of the hostility towards bitcoins and cryptocurrency, but with lesser developed countries while it will hurt them in the process it's kind of understandable why they would want to ban crypto. It's still a taboo subject, and central banks don't want to loose their hegemony, so no wonder this is happening. Give it a bit of time and they will flip over in no time.
in some source new here, they will release new regulation about cryptocurrent that cant make transaction with bitcoin in a short time (i dont know short time will be 1 month or until next year) but many bank here that accepted blockchain system and will apply in their system, and the funny one is government will asking tax for cyptocurrent 
Indonesia’s central bank, has threatened action against bitcoin and say
I must emphasize that BI does not see bitcoin as an official payment tool in Indonesia so all people should know not to use Bitcoin as a means of payment. There is a risk.
Source of news https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/
lol! same in my country. the government is not publishing articles against bitcoin investment. that it is too risky to invest in bitcoin that there is no guarantee that our investments are going to returned because bitcoin is not backed by the government and banks. it is not recognized too. Quote
I must emphasize that BI does not see bitcoin as an official payment tool in Indonesia so all people should know not to use Bitcoin as a means of payment. There is a risk.
Source of news https://www.cryptocoinsnews.com/bitcoin-banned-payment-method-adopters-will-dealt-indonesian-central-bank/
Every country has won rules and regulation to lead their own economy. Indonesia has try to risk free economic system. Because they have no control about bitcoin.
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