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Bank Indonesia, the Bank of Korea, and South Korea’s Ministry of Economy and Finance have introduced a local currency transaction framework to boost bilateral trade using the rupiah and won. This initiative aims to reduce exchange rate risk and improve transaction efficiency by facilitating direct currency transactions between the two nations, bypassing the need for … Read more
The central bank of Indonesia is working to issue a wholesale digital rupiah. The new currency is meant to be the only legal tender for digital transactions in the country while the regulator also wants to ensure that it will be exchangeable across borders. Digital Rupiah Concept Expected by Year End Indonesia’s monetary authority is … Read more
Despite repeated warnings from the central bank of Indonesia about the supposed risks of cryptocurrency trading, everyday people keep turning to bitcoin in this highly populated Asian country. In fact, soon there will be more traders on just one crypto platform than there are on the local stock exchanges established over a 100 years before … Read more
Having issued a stark warning to “all parties” against any use of “virtual currency”, Bank Indonesia has now joined forces with local police to prevent bitcoin transactions where they are most likely to take place – in Bali. The island, a popular holiday destination with tourists spending both fiat and crypto, has been targeted by … Read more
Bank Indonesia, Unitary State of the Republic of Indonesia’s central bank, has issued perhaps its bluntest statement yet on curbing the use of cryptocurrency, affirming a hardening stance on the popularity of what it refers to as “virtual currency” such as bitcoin. Also read: Ditch University and High Transaction Fees! Bank Indonesia Warns All Parties … Read more
