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

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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

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Bitcoin Payments Enabled by Indonesian E-Marketplace

Bitcoin

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

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Bitcoin Remittance Services in Indonesia Could Save Migrant Workers $374 Million

In 2010, more than $5 billion was sent back home from Indonesian migrant workers across the world, up 2.44 percent from 2009 ($4.91 billion). That number may seem huge but, in the grand scheme of things, it’s very small. Through the process of remittance, $436 billion looked to be sent back home in total during … Read more