2 years ago
Indonesia's Financial Services Authority (OJK) warned firms against offering income of crypto, according to a Reuters study Tuesday, though trading is ineligible successful the country.
Financial institutions are strictly prohibited from "using, marketing, and/or facilitating crypto plus trading," the OJK said successful an Instagram post, according to Reuters. "Please beware of allegations of Ponzi strategy scams successful crypto investments."
Trading of crypto is permitted successful Indonesia and is regulated by the Commodity Futures Trading Regulatory Agency. It is estimated that arsenic galore arsenic 7.4 million Indonesians were invested successful crypto arsenic of July past year, treble the fig of a twelvemonth earlier.
“Crypto was declared ineligible successful Indonesia arsenic a commodity, managed nether the Indonesian Commodities Bureau (BAPPEBTI), and traded by licensed crypto plus exchanges, " said Pandu Sastrowardoyo, co-founder and subordinate of the committee astatine Indonesia’s Blockchain Association. "In my sentiment this caller connection does not alteration the quality of this legality. Only licensed crypto plus exchanges tin execute these duties successful Indonesia."
Indonesia's cardinal slope has expressed interest astir the effect crypto trading whitethorn person connected the wider fiscal system, with adjunct politician Juda Agung saying past November that a cardinal slope integer currency would beryllium 1 of its tools to "fight" cryptocurrency.
“There would not beryllium a nonstop interaction to crypto plus trading successful Indonesia, and successful information we invited this regularisation to guarantee that the scope of crypto speech activities stay wrong the scope of crypto exchanges, owed to the differing quality of the asset's hazard profile," said Indonesia’s Blockchain Association.
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Jamie Crawley is simply a CoinDesk quality newsman based successful London.
Eliza Gkritsi is CoinDesk's crypto mining newsman based successful Asia.
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