Indonesia says Bitcoin is a commodity & legal to trade

posted 6 months ago
Regulators in Indonesia officially recognize Bitcoin as a commodity, thus providing legal backing for trading Bitcoin. The Indonesian regulator also issued regulations for cryptocurrency exchanges. Based on the new ruling, trading Bitcoin is now legalized in the country.

Despite the formal recognition given to Bitcoin as a commodity, the ban on cryptocurrency payment is still in effect, as the Indonesian regulator said their “mandate is the protection of Rupiah sovereignty and monopoly within the country.”
Tags: bitcoin, news