Indonesia “Bitcoin is one of the commodity deals”

The Indonesian futures exchange supervisory committee (Bappebti) reported that the coded currency coin was one of the commodity deals. It has already provided a legal basis for the cryptographic exchange, which operates in Indonesia.

No. approved by the Indonesian authorities According to 5/2019, bit coins and other digital currencies are considered to be commodity deals. Under the new regulations, the Codex Exchange must meet standards such as risk assessment, anti-money laundering, and terrorist financing measures. It also requires a server that keeps transaction records for at least five years at home. The committee says it aims to protect people who want to invest in cryptographic money and not to fool the seller of fraudulent products.

However, Indonesian central bank official Indonesia Bank banned passwords and bit coins as a means of payment, but the commodity transaction is outside the central bank’s jurisdiction and concerns are limited to the means of payment. For more information, please click here .