Bank Indonesia Cracks Down On Bitcoin, Affects Businesses

Having served a warning to “all parties” against any use of “virtual currency”, The Bank Of Indonesia has joined forces with the Police to prevent crypto-transactions on where it seems most likely to take place; Bali.


The Isalnd which is popular for tourists who spend both fiat and crypto currency has been targeted by the Polica and Bank of Indonesia. The inspections f business to know which is accepting Bitcoin is underway says the Indonesia media and crypto communities in the country.



Representatives from the Bank and the Police has teamed up to investigate where cryptocurrency transactions might be taking place in Jarkata, where it is deemed illegal.



The crackdown came after BI declared BTC an illegal form of payment in Indonesia. Digital currency has been banned in Indonesia and Rupiah is the only recognized form of payment in the country.



We are looking out for bitcoin transactions in Bali, particularly in tourist spots. We will take measures against non-rupiah transactions.


We are looking out for bitcoin transactions in Bali, particularly in tourist spots. We will take measures against non-rupiah transactions.

The announcement was made by the head of BI's local branch  Causa Iman Karana who described the Island as an alluring place for those who want to carry out illegal transactions”





Karana said in Despar that people have been warned not to use digital currencies because there are no authorities that regulate the currency.




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