Bank Indonesia (The central bank) with strictly forbids the use of bitcoin in every transaction in Indonesia. One of factors : high fluctuations of bitcoin.
This then makes Bank Indonesia attached an assertion about banning the use of bitcoin in two Bank Indonesia, namely Regulations 18/40/PBI/2016 of Implementation of the Processing Center for the payment and in Regulations 19/12/PBI/2017 on Implementation of Technology, the financial. The Executive Director of the program transformation of Bank Indonesia (PPTBI) Onny Widjanarko to prove the risk of bitcoin.
"The risk in konvertibilitas that there is no guarantee be exchanged with fiat money, especially with the stability of a high price," said Onny in the Bank Indonesia, Monday (15/1/2018).
He said, when this bitcoin it has a value of the highest among the 1,400 virtual currency or the digital money in the world. As a bitcoin is now the value of Rp 193, 8 million by market capitalization reached U.S. $ 240 billion.
From the chart is shown Onny, bitcoin the previously mentioned much different when compared with the price of one day earlier $ 194, 1 million. Even if than the price of the 13 January 2018, there are currently at $ 203.7 million.
The high price fluctuations such as the value determined in the hope of supply and demand in the next (spekulatif).
From the data indicates the price fluctuations bitcoin is very risky. It is what causes the (The central bank) to ban the use of bitcoin.
"Not only that, bitcoin also berrisiko in the stability of the financial system in case of bubble burst because there is interaction between the virtual currency and real economic," he said. (Yas).
Bank Indonesia (The central bank) again warned the dangers and risks to users of virtual (virtual currency) like bitcoin.
The Executive Director of the Communication's Agusman said, the virtual including bitcoin is not recognized as a means of payment, so it is not used as a means of payment in Indonesia.
"It is in accordance with the provisions of the Act No. 7 of 2011 on Currency," he said in Jakarta, Saturday, 13 January 2018.
In the Law mentioned, currency is the money spent of the Republic of Indonesia and every transaction that has the purpose of payment, or other obligations that must be met with money, or financial transactions are done in the area of the Republic of Indonesia must use dollars.
Thus, affirmed Agusman, ownership virtual currency is very risky and full of speculation because there is no authority in charge, there was no administrator, there is no underlying assets underlying the price.
The others, namely the trade value very volatile and susceptible to the risk of inflation (bubble) and prone to be used as a means of money laundering and terrorism funding offences, he said, so it can affect the stability of the financial system and the detriment of society.
"Therefore, a warning to all parties so as not to sell, buy or trade virtual currency," he stated.
Bank Indonesia the central bank also warned, as the payment system, Bank Indonesia banned the subsidiary payment system (prinsipal, the switching, organizers said, organizers of a final settlement, the publisher, acquirer, payment gateways, organizers of an electronic wallet, the transfer of funds), and organizers of the technology financially in the country's banks and institutions in addition to the bank to process payment transactions with money it's virtual.
It's as set out in Regulations 18/40/PBI/2016 of Implementation of the Processing Center for the payment and in Regulations 19/12/PBI/2017 on Implementation of Technology, the financial.
"Bank Indonesia as the authorities in the field of monetary stability of the country's financial system, and payment system always committed to maintain a stable financial system, consumer protection and prevent practices of money laundering and financing of terrorism,".