Bank Indonesia Banned and Will Take BitCoin Users in Indonesia

Bitcoin, who does not know cryptocurrency (digital currency) is best known from all these cyber currencies. The problem of cyberspace currency is arguably a sensitive issue given that every country is trying to maintain the sovereignty of their respective countries, one of which is by controlling currency circulation in the country, for this case, the digital currency.

If we can philosophize a bit, what is it really a digital currency? Because the official definition of the government of the Republic of Indonesia does not exist when this article was created. We take the closest definition according to Law no. 7 Year 2011 Article 1 Paragraph 1 which writes, as quoted "Currency is money issued by the Unitary State of the Republic of Indonesia hereinafter referred to as Rupiah." And if combined with Law no. 23 Year 1999 Article 2 Paragraph 2, as quoted "Rupiah currency is a legal means of payment in the territory of the Republic of Indonesia". Of the two definitions of cryptocurrency is certainly not official because it is not issued by NKRI and not a legal means of payment.

From here it is interesting, in fact there are some countries that recognize the existence of BitCoin as a commodity and there are even countries that try to make cryptocurrency for their own country. Assuming BitCoin as a commodity means BitCoin is more or less like in-game-money like "Gold", "Bit", "Diamond", "Point", or any term in every game. But again, the Indonesian government does not yet have an official definition for BitCoin and other digital currencies. If it is considered a commodity and prohibited, then in-game money will be prohibited. But if it only prohibits cryptocurrency, violates the principle of justice and opens the gap to make "game" mining.

Funny thing, BitCoin is hated but also loved. If viewed from the perspective of gamers, Cryptomining certainly be one reason or even be the only reason the price of graphics cards soaring. From a government perspective, cryptocurrency poses a threat to state sovereignty. While in the perspective of traders, cryptocurrency becomes one of the investment commodities that have high risk but high profits as well.

But certainly, at least for now, Bank Indonesia strictly prohibits the use of BitCoin or maybe in this case it is all digital currency in Indonesia. We do not know how the government detects or gets data about people who "mine" or transact the digital currency. What is clear is that the use of digital currency as a means of transactions is against the law and may be threatened with criminal acts. But once read there is no ban on ownership and "mine" the digital currency.

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