Bank Indonesia (BI), the country’s central bank, is developing the reglament to enact a sweeping ban to all cryptocurrencies, their trading and using in transactions as payments. The central bank official reported that the crippling regulation was required to maintain the sovereignty of the Indonesia’s fiat currency rupiah.
We [will] also prevent arbitrage opportunities, unhealthy business practices and business controls by parties outside the legal reach of Indonesia’s laws that could damage the structure of industries here.
the governor of the central bank
Also the official said that digital currencies can use for financing of a terrorism and laundering of money. Now the position of the Central bank is negative toward cryptocurrencies after threatening bitcoin adopters in the country. The new rules are planning in 2018 and will relate to also include FinTech-companies and startups.