Bitcoin proceeds to increase in terms of market value and spans in terms of awareness and usage in many different countries. But Indonesia fails to recognize its role in the crypto world.
The announcement made by the Indonesia’s central bank will not determine Bitcoin as a legitimate means of payment. Since the announcements, many Indonesia Bitcoin exchange such as Bitbayer and Toko Bitcoin comply with the statement of Indonesia bank. Since it is to shutdown their services by the end of this month.
The Bitcoin payment platform also encourages its customers to withdraw their funds as soon as possible.
While Indonesia’s central bank didn’t list any comment regarding other cryptocurrencies. But it has realized that the same set of Bitcoin protocol relates to other digital currency.
The latest announcement form bank released last month, when Eny V Panggabean, Director of Payment System Policy Department, settled that Bitcoin is still not an identified digital currency.
Related Coverage: Bank of Indonesia ceased operating bitcoin payment platforms
Oscar Darmawan, CEO of Bitcoin exchange PT Bitcoin Indonesia, has spoken to media that there is no direct request from authorities for the closure of the two Bitcoin payment platforms. In fact, they have voluntarily taken a decision in order to comply with the present standards and regulations.
According to the statement, Darmawan says there is no issue with the exchange and needs to provide users reassurance. Therefore, saying there is “no need to be concern”.
Apparently, they are really looking to expand their exchange business. However, it is to ensure that everything is true with what the regulators would want. So this is the reason for why they shutdown their websites.
It’s still unclear how exactly Bitcoin can step in Indonesia. Although, other regions of Asian continents represents great interest in the cryptocurrency.
However, there remains hopes that it will agree to accept as legitimate form of payment on one or the other day.