On January 13, Central Bank of Indonesia published an official document, in which it warned its citizens from any operations – buying, selling, trading – connected with cryptocurrencies. The use of cryptocurrencies is not legalized in the country:
“Virtual currencies are vulnerable to bubble risks and susceptible to be used for money laundering and terrorism financing, therefore can potentially impact financial system stability and cause financial harm to society.”
Indonesia has always been among the Bitcoin-pessimistic countries and never supported the development of cryptocurrencies. For example, in September its government announced that the Bank of Indonesia will not work with Bitcoin (BTC) as a way of payment. Thus, two big Indonesian-based crypto exchanges, BitBayar and TokoBitcoin were closed.