Bank Indonesia (BI) expressly prohibits the use of bitcoin in every transaction in Indonesia. One factor is the high fluctuation of bitcoin. 
This subsequently prompted Bank Indonesia to insert the ban on the use of bitcoin in two Bank Indonesia Regulations, namely PBI 18/40 / PBI / 2016 on the Implementation of Payment Processing Transactions and in PBI 19/12 / PBI / 2017 on the Implementation of Financial Technology. Executive Director of Center for Transformation Program of Bank Indonesia (PPTBI) Onny Widjanarko proves the risk of bitcoin.
"The risk of convertibility is no guarantee to be exchanged with fiat money, especially with high price volatility," said Onny at Bank Indonesia Building,He mentioned, currently bitcoin does have the highest value among the 1400 virtual currency or digital currency in the world. Per one bitcoin is now worth Rp 193.8 million with a market capitalization of US $ 240 billion.
From the price chart shown Onny, the mentioned bitcoin price is much different when compared to the previous one day price of Rp 194.1 million. Even if compared to the price of January 13, 2018, currently there are at Rp 203.7 million.
The high price fluctuation is because its value is determined on the expectation of supply and demand in the future (speculative),
From these data indicate that bitcoin price fluctuations are very risky. This is why Bank Indonesia (BI) continues to ban the use of bitcoin.
"Not only that, bitcoin also risk to financial system stability in the event of bubble burst because there is interaction between virtual currency and real economy," he said.
Bank Indonesia Warns Bitcoin Users again
Bank Indonesia (BI) again warned of the dangers and risks to virtual money users such as bitcoin. 
Executive Director of BI Communication Department, Agusman, said virtual money including bitcoin is not recognized as a valid payment instrument, so it is prohibited to be used as a means of payment in Indonesia.
"This is in accordance with the provisions of Act No. 7 of 2011 on Currency," he said in Jakarta, Saturday, January 13, 2018.
In the Act states, currency is money issued by the Unitary State of the Republic of Indonesia and any transactions that have a purpose of payment, or other obligations that must be met with money, or other financial transactions conducted in the Territory of the Republic of Indonesia shall use rupiah.
Thus, affirmed Agusman, possession of virtual currency is very risky and full of speculation because no authority is responsible, there is no official administrator, there is no underlying asset underlying the price.
Another risk is that the value of trade is so volatile that it is vulnerable to bubble risks and prone to use as a means of money laundering and financing of terrorism, thereby affecting the stability of the financial system and harming the public.
"Therefore, Bank Indonesia warns all parties not to sell, buy or trade virtual currency," he said.
Bank Indonesia also reminds, as payment system authority, Bank Indonesia prohibits all payment system service providers (principals, switching organizers, clearing organizers, final settlement providers, issuers, acquirers, payment gateways, electronic wallet organizers, fund transfer providers) and financial technology providers in Indonesia both banks and non-bank institutions to process payment transactions with virtual money.
This is as regulated in PBI 18/40 / PBI / 2016 on the Implementation of Payment Transaction Processing and in PBI 19/12 / PBI / 2017 on the Implementation of Financial Technology.
"Bank Indonesia as the monetary authority, the stability of the financial system, and the payment system are always committed to maintaining financial system stability, protecting consumers and preventing money laundering and terrorism financing practices," Agusman concluded.