Indonesia Warns Against Owning, Selling, Trading Cryptocurrency
- BI says virtual currencies prone to forming asset bubbles
- Move follows ban on fintech payments using cryptocurrencies
This article is for subscribers only.
Bank Indonesia is taking a firm stance against cryptocurrencies as it urges all parties to refrain from owning, selling or trading the tokens.
“Owning virtual currencies is very risky and inherently speculative,” the central bank said in a statement Saturday. The digital tokens “are prone to forming asset bubbles and tend to be used as method for money laundering and terrorism funding, so it has the potential to affect financial-system stability and harm the public.”