BI can not guarantee the loss of the use of digital currency

Indonesia stated that the government and central banks do not guarantee losses from the use of virtual currency. Because it is not a legitimate payment system and has been banned in every transaction.

appealed to the public to avoid the digital currency. Because there are no rules and responsible authorities.

The central bank, he added, also reminded people not to sell, buy or trade the digital currency.

Causa stressed, the legal currency and recognized as a means of payment in the country is the Rupiah.

Causa stressed, the legal currency and recognized as a means of payment in the country is the Rupiah. This is in accordance with Law No. 7 of 2011 concerning Currency.

Given its existence is not clear, virtual currency is also vulnerable to use for various crimes. Among them are money laundering and terrorism financing.

In addition, the value of virtual currency is also not fair. Tend to fluctuate. So it can affect the stability of the financial system and harm the public.

Bank Indonesia previously identified 44 types of businesses in Bali. Consists of hospitality, vehicle rental services, cafes, to tour packages using bitcoin digital currencies.

But after tracing the central bank along with the police through social media and public information, the 44 types of businesses have been laid off the use of bitcoin.

However, Causa said it would intensify surveillance to a number of locations so that similar things would not appear again.

In line with Causa, Head of Regional OJK Bali and Nusa Tenggara, Hizbullah said that it will provide strict sanctions if there is a financial service institutions that accommodate the utilization of virtual currency.

Until now, financial services institutions in Bali are still safe and there is no indication of supporting the virtual currency.

Bitcoin, one of the top five virtual currencies in the world such as ethereum, ripple, bitcoin cash and cardano out of a total of about 1,300 virtual currencies are rife in circulation.

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