Ada Pertanyaan? Hubungi Kami 
2026 Hak Cipta Milik Hukumonline.com
Produk Pilihan
Ada Pertanyaan? Hubungi Kami Fathan Qorib, Yanuar Pribadhie
Bank Indonesia (BI) has firmly stated that “Bitcoin” virtual money used in cyber transactions does not accord with Law No. 7 of 2011 on Currency.
According to Ronald Waas, Deputy Governor of BI, the Currency Law only recognizes transactions using Rupiah, and Bitcoin certainly fails that test.
The nature of Bitcoin as cyberspace currency means that Bitcoin requires technology services to support it. Accordingly, pursuant to Law No. 11 of 2008 on Information and Electronic Transactions, every public service institution using technology must be certified by the Ministry of Communication and Information Technology.
“In using Bitcoin, there are two standards that have to be passed, the Currency Law and the laws applicable to the technology that uses it. It is questionable whether Bitcoin has been or will be certified by the Ministry,” said Ronald last Thursday.
Meanwhile, Difi A Johansyah, Executive Director of the Communication Department at BI, questions whether Bitcoin can be categorized as “money”. According to Difi, if it is regarded as money, there must be clarity as to which party issues the currency.
“We have to provide backups each time we issue money. Also, there are territorial considerations, for example, the Rupiah is for use in Indonesia,” said Difi.
Moreover, currency oversight is a necessary prerequisite for money. This is not the case for Bitcoin because it is universal in nature. The lack of security and ability to regulate it is another issue that Bitcoin raises.
To date, BI has not issued any regulation addressing Bitcoin. According to Difi, BI still has to explore this virtual money. Besides, currently there are not many Bitcoin’s users in Indonesia.
However, the importance of monitoring this issue and considering a proper regulatory response remains an issue given the secrecy around ownership issues related to Bitocoin and that it may be used for money laundering.
(hot/kc)
Bank Indonesia (BI) has firmly stated that “Bitcoin” virtual money used in cyber transactions does not accord with Law No. 7 of 2011 on Currency.
According to Ronald Waas, Deputy Governor of BI, the Currency Law only recognizes transactions using Rupiah, and Bitcoin certainly fails that test.
The nature of Bitcoin as cyberspace currency means that Bitcoin requires technology services to support it. Accordingly, pursuant to Law No. 11 of 2008 on Information and Electronic Transactions, every public service institution using technology must be certified by the Ministry of Communication and Information Technology.
“In using Bitcoin, there are two standards that have to be passed, the Currency Law and the laws applicable to the technology that uses it. It is questionable whether Bitcoin has been or will be certified by the Ministry,” said Ronald last Thursday.
Meanwhile, Difi A Johansyah, Executive Director of the Communication Department at BI, questions whether Bitcoin can be categorized as “money”. According to Difi, if it is regarded as money, there must be clarity as to which party issues the currency.
“We have to provide backups each time we issue money. Also, there are territorial considerations, for example, the Rupiah is for use in Indonesia,” said Difi.
Moreover, currency oversight is a necessary prerequisite for money. This is not the case for Bitcoin because it is universal in nature. The lack of security and ability to regulate it is another issue that Bitcoin raises.
To date, BI has not issued any regulation addressing Bitcoin. According to Difi, BI still has to explore this virtual money. Besides, currently there are not many Bitcoin’s users in Indonesia.
However, the importance of monitoring this issue and considering a proper regulatory response remains an issue given the secrecy around ownership issues related to Bitocoin and that it may be used for money laundering.
(hot/kc)
Fathan Qorib, Yanuar Pribadhie
Bank Indonesia (BI) has firmly stated that “Bitcoin” virtual money used in cyber transactions does not accord with Law No. 7 of 2011 on Currency.
According to Ronald Waas, Deputy Governor of BI, the Currency Law only recognizes transactions using Rupiah, and Bitcoin certainly fails that test.
The nature of Bitcoin as cyberspace currency means that Bitcoin requires technology services to support it. Accordingly, pursuant to Law No. 11 of 2008 on Information and Electronic Transactions, every public service institution using technology must be certified by the Ministry of Communication and Information Technology.
“In using Bitcoin, there are two standards that have to be passed, the Currency Law and the laws applicable to the technology that uses it. It is questionable whether Bitcoin has been or will be certified by the Ministry,” said Ronald last Thursday.
Meanwhile, Difi A Johansyah, Executive Director of the Communication Department at BI, questions whether Bitcoin can be categorized as “money”. According to Difi, if it is regarded as money, there must be clarity as to which party issues the currency.
“We have to provide backups each time we issue money. Also, there are territorial considerations, for example, the Rupiah is for use in Indonesia,” said Difi.
Moreover, currency oversight is a necessary prerequisite for money. This is not the case for Bitcoin because it is universal in nature. The lack of security and ability to regulate it is another issue that Bitcoin raises.
To date, BI has not issued any regulation addressing Bitcoin. According to Difi, BI still has to explore this virtual money. Besides, currently there are not many Bitcoin’s users in Indonesia.
However, the importance of monitoring this issue and considering a proper regulatory response remains an issue given the secrecy around ownership issues related to Bitocoin and that it may be used for money laundering.
(hot/kc)
Bank Indonesia (BI) has firmly stated that “Bitcoin” virtual money used in cyber transactions does not accord with Law No. 7 of 2011 on Currency.
According to Ronald Waas, Deputy Governor of BI, the Currency Law only recognizes transactions using Rupiah, and Bitcoin certainly fails that test.
The nature of Bitcoin as cyberspace currency means that Bitcoin requires technology services to support it. Accordingly, pursuant to Law No. 11 of 2008 on Information and Electronic Transactions, every public service institution using technology must be certified by the Ministry of Communication and Information Technology.
“In using Bitcoin, there are two standards that have to be passed, the Currency Law and the laws applicable to the technology that uses it. It is questionable whether Bitcoin has been or will be certified by the Ministry,” said Ronald last Thursday.
Meanwhile, Difi A Johansyah, Executive Director of the Communication Department at BI, questions whether Bitcoin can be categorized as “money”. According to Difi, if it is regarded as money, there must be clarity as to which party issues the currency.
“We have to provide backups each time we issue money. Also, there are territorial considerations, for example, the Rupiah is for use in Indonesia,” said Difi.
Moreover, currency oversight is a necessary prerequisite for money. This is not the case for Bitcoin because it is universal in nature. The lack of security and ability to regulate it is another issue that Bitcoin raises.
To date, BI has not issued any regulation addressing Bitcoin. According to Difi, BI still has to explore this virtual money. Besides, currently there are not many Bitcoin’s users in Indonesia.
However, the importance of monitoring this issue and considering a proper regulatory response remains an issue given the secrecy around ownership issues related to Bitocoin and that it may be used for money laundering.
(hot/kc)