Bank Indonesia (BI), the country’s central bank, is drawing up regulation to enact a sweeping ban on all forms of cryptocurrency, their trading and their usage in transactions as payments, according to Agus Martowardojo – the governor of the central bank. According to local publication Pikiran Rakyat, the central bank official made the revelation during the central bank’s annual meeting last week, claiming the crippling regulation was required to maintain the sovereignty of the rupiah [Indonesia’s fiat currency] as the country’s legal tender.
Wow, what a step backwards. If he only knows how much money his countrymen are bringing into Indonesia. Even to the point that some are calling to ban THEM from the forum.
Sovereignty my goat, it's not like they'll have capital flight any time soon. If there are those who are to benefit from bitcoins, it's us in developing countries. Buy some bitcoins, hold, convert for use, blam, more value added into the economy.