Do not Have Legality BI, OJK Banned Financial Services Market Bitcoin

By : Herry Barus And Aldo Bella Putra | Monday, January 22 2018 - 21:00 IWST

Ilustrasi Bitcoin (Foto Dok Industry.co.id)
Ilustrasi Bitcoin (Foto Dok Industry.co.id)

INDUSTRY.co.id - Denpasar - The Financial Services Authority prohibits financial services institutions in Bali from utilizing and marketing digital currency or "bitcoin" because they do not have the legality of Bank Indonesia.

"Therefore, the risk is high, then the financial institution regulated by OJK, is prohibited to engage with bitcoin," said Head of Regional OJK Bali and Nusa Tenggara Hizbullah in Denpasar, Monday (22/1/2018)

According to Hizbullah, financial services institutions such as the banks if involved to participate in the sale of bitcoin, the financial services institutions will be given sanctions.

"Sanctions depend on his mistakes can be heavy can be mild," Hezbollah said to the media crew.

However, until now there has been no report or findings that financial services institutions, especially those operating in Bali are involved in the digital currency system.

OJK, he added, has no authority related to the bitcoin because the financial services authorities oversee the actions of financial institutions such as banking, capital markets, and insurance up to, financing institutions.

Hizbullah added that Bitcoin has no strong basis as currency, unlike the Indonesian Rupiah currency which is the legal currency as a payment system in Indonesia issued by Bank Indonesia.

So is the legitimate currency of other countries such as the US dollar issued by the US central bank, the Fed, the Yen from Japan, the Euro from the European Union and other legal currencies.

In addition, bitcoin, he added, there is no responsible, unfair value fluctuate and the perpetrators who make transactions are also not clear.

News Comment

Today's Industry

GoTo is a blend of Gojek and Tokopedia. (Photo: republika.co.id)

Selasa, 27 September 2022 - 07:03 WIB

On the Sustainable Revenue Growth Path, Macquarie Securities Assesses GOTO Outperform

PT GoTo Gojek Tokopedia Tbk (GOTO) received an Outperform rating from Macquarie, an Australian-based securities company. The largest digital ecosystem company in Indonesia is considered to be…

TokoScore owns features of income prediction and fraud flags. (Photo: indotelko.com)

Kamis, 22 September 2022 - 12:29 WIB

Encouraging Financial Inclusion, Tokoscore Services Enable to Raise GOTO Revenue

The expansion of PT GOTO Gojek Tokopedia Tbk (GOTO) into the creditworthiness analysis business as known as credit scoring, through Tokoscore, has received a positive response from market players.…

Alternative tobacco products. (Photo: lifestyle.sindonews.com)

Rabu, 21 September 2022 - 11:20 WIB

Indonesia Needs to Encourage Alternative Tobacco Products Research Collaboration

The scientific studies development on alternative tobacco products in Indonesia is still too minimal. The Indonesian government is suggested to encourage research collaboration on alternative…

Alternative tobacco products. (Photo: lifestyle.sindonews.com)

Rabu, 14 September 2022 - 12:30 WIB

Adult Smokers Entitled to Valid and Reliable Information of Alternative Tobacco Products

Public owns the rights to obtain valid and reliable information to improve their health quality. The same rights is also owned by adult smokers, particularly to pertinent information about the…

Tikki Pangestu, the former Director of Policy Research and Cooperation of World Health Organization (WHO). (Photo: channelnewsasia.com)

Selasa, 06 September 2022 - 19:10 WIB

Alternative Tobacco Products, Strategy to Reduce Smoking Prevalence

The high smoking prevalence has been closely associated with increased smoking-related diseases. Alternative tobacco products are predicted to be one of the solutions that can help reduce smoking…