Bitcoin Not a Legal Payment Instrument in Indonesia, Says BI
https://pullippassion.com/ – Bitcoin Not Legal Payment Instrument . Bank Indonesia (BI) has confirmed that Bitcoin is not a legally accepted payment instrument in Indonesia. This clarification comes amid growing public interest in cryptocurrencies and their use in digital transactions. While people can trade and invest in Bitcoin, BI emphasizes that it cannot be used as a substitute for the Indonesian Rupiah in official payments.
The central bank stresses that only the Rupiah serves as the official currency for transactions, ensuring legal certainty and financial stability. Using Bitcoin for payments could expose individuals and businesses to regulatory risks, as well as potential financial losses due to the cryptocurrency’s volatility.
Despite this, the government allows trading of Bitcoin and other cryptocurrencies as commodities through licensed exchanges. Investors must follow strict regulations and report activities to avoid violations of financial laws. BI continues to monitor the market and collaborate with the Financial Services Authority (OJK) to safeguard public interest.
Financial experts note that Indonesia’s approach aims to balance innovation with security. While blockchain technology and digital assets have potential, authorities want to prevent misuse that could harm consumers and disrupt the economy.
In short, Bitcoin remains a speculative asset rather than a recognized payment method. Indonesians can invest or trade it legally, but businesses should not accept it for goods or services. BI’s guidance ensures that the Rupiah continues to function as the country’s stable and official currency.
