Bitcoin Banned as a Payment Method, Adopters Will be ‘Dealt With’: Indonesian Central Bank

The head of Bank Indonesia, Indonesia’s central bank, has threatened action against bitcoin adopters if the cryptocurrency is used as a method of payment. First reported by CCN.com in early 2014, the country’s central bank issued a public notice warning citizens to be careful of adopting virtual currencies. “Bank Indonesia states that Bitcoin and other … Read more

Australian Govt Regulator Inks FinTech Agreement with Indonesia

Australia’s corporate regulator, the Australian Securities and Investments Commission (ASIC), has entered a FinTech cooperation agreement with its Indonesian counterpart in a bid to bolster innovation in the sector. Signed on Friday between the ASIC and Indonesia’s Otoritas Jasa Keuangan (OJK) in Melbourne, the agreement will see the two regulators combine to develop and establish … Read more

Uber-Competitor Grab Plans $700 Million Fintech Investment in Indonesia

South-east Asia’s biggest ride-hailing platform Grab has unveiled plans toward a $700 million investment in Indonesia. The majority of which will be toward Fintech development, particularly mobile payment and financial services in the country. Singapore-based Grab which sees a major presence in a number of Southeast Asian countries including Singapore, Malaysia, Thailand, the Philippines and … Read more

Terrorists Use Bitcoin And PayPal In Indonesia, AML Official Claims

Islamic militants are using bitcoin and PayPal to fund terrorism in Indonesia, according to the head of a financial transaction and reporting agency, the Tribune News in Jakarta reported. Kiagus Ahmad Badaruddin, the head of The Center for Financial Transaction Reporting and Analysis (INTRAC/PPATK) said conventional means are no longer being used to smuggle funds … Read more

P2P Fintech Firms see Regulation in Indonesia

Indonesian Fintech companies that facilitate peer-to-peer (P2P) lending in the country have seen new regulation imposed by the Financial Services Authority. Known as the Otoritas Jasa Keuangan (OJK) locally, the government agency regulates and supervises the financial services sector in the country. The new regulation, POJK No. 77/2016, announced toward the end of December, is … Read more

Bitcoin Usage Gains Traction in Indonesia

The Indonesian market is experiencing a rise in the number of bitcoin transactions even though the digital currency has no legal status in the country, according to a report from the Jakarta Post. In 2014, Bank Indonesia, the Indonesian central bank, released a statement declaring that bitcoin was not legally recognized as money or legal … Read more

South Korea and Indonesia are Considering Fintech Collaboration

Indonesia and South Korea are thinking about joining forces in an attempt to boost the FinTech industry to help the burgeoning sector in both countries, reports The Jakarta Post. Last month South Korea announced that it is going to introduce bitcoin regulations in 2017 as digital currencies continue to grow in the country. According to … Read more

Bitcoin Payments Enabled by Indonesian E-Marketplace

A prominent e-commerce and digital payment platform in Indonesia, KinerjaPay Corp., has enabled bitcoin payments for transactions on its platform. This will be the first time that an e-commerce portal in Indonesia allows for bitcoin transactions on its platform. Users of KinjeraPay Corp., an Indonesian e-commerce platform will now be able to settle transactions on … Read more

Indonesian Journalist: Follow Japan’s Example and Support Bitcoin

Indonesia should follow Japan and support bitcoin, according to an article in okezone.com, an online portal of news and entertainment that focuses on Indonesian readers both in the country and living abroad. The article, by journalist Kurniasih Miftakhul Jannah, calls for the country to take action to make bitcoin more acceptable in his country, in … Read more