BlockchainIndonesia does not intend to ban Bitcoin (BTC) like...

Indonesia does not intend to ban Bitcoin (BTC) like China

The Indonesian government official said the country will not follow China’s lead when it comes to cryptocurrencies. It recently introduced an official ban on mining and all operations related to Bitcoin (BTC) and other digital assets. A senior Indonesian official added that unlike China, they are keen on giving investors the protection they need.

The development of crypto relationships

When the Central Bank of China officially announced the cryptocurrency ban, some tokens fell, losing as much as 20% in value. Major exchange platforms such as Huobi and Binance have stopped providing Chinese users with the option to register. Huobi announced that by December 31 this year, all registered accounts for residents of China will be deleted.

Indonesia, unlike other Asian countries, is rapidly adopting digital assets. According to CoinGeek , Commerce Minister Muhammad Lutfi has said he intends to toughen the rules but there will certainly be no ban.

Over the past year and a half, the country has seen steady growth in the number of cryptocurrency users. The Futures Market Supervisory Board (Bappebti) noted that in the first five months of this year, trading volume grew by an average of 40% to $ 19 billion. These data were obtained from the study of the work of 13 local exchanges which are supervised by Bappebti.

The number of traders has also increased, if there were previously around 4 million while there are now around 6.5 million. However, those who have decided to invest in the stock market are only 5.6 million. A local exchange platform, Luno, expects its 700,000 customers to triple in the near future, its representative said.

Stephan Evans
Stephan Evanshttps://www.newsalarms.com/
I'm the Man in charge of News Alarms, but also getting all the reviews up on the website, so you can thank me for all those shining stars – or blame me for a lack of them. I also spend my time working my SEO magic to try and coax the Google Juice to flow in our favor.

Latest news

Sandford Blair Capital Delivers Consistent Growth Through Adaptive Investment Strategies

Lier, Belgium, 23rd June 2025, ZEX PR WIRE, Sandford Blair Capital, a quantitative investment management firm with nearly two...

Augustus Kirby, an NYC based marketer, Explains How Brands Can Win Loyalty in a Tough Economy

Michigan, US, 23rd June 2025, ZEX PR WIRE, As inflation continues to shape consumers’ daily decisions, New York City...

My Disability Provider Expands High-Quality NDIS Services Across Victoria, Queensland, and New South Wales

The disability support service provider extends its services to cater to the increasing demand for medical support. Caroline Springs, Australia, 23rd...

Deipno® Tea and Spice Blends Expands Pantry Range with New Gourmet Peppers and Herb-Infused Sea Salts

Florida, US, 23rd June 2025, ZEX PR WIRE, Deipno® Tea & Spice Blends, known for its artisanal teas and...

We Pickup Clothes Expands Free Contactless Donation Pickups Across Chicagoland, Turning Closet Clutter into Community Impact

New partnerships and an expanded service area allow Chicago residents to give back globally and locally—without leaving their doorstep. Chicago,...

We Pickup Clothes Launches Eco-Friendly Home Donation Service to Help Chicago Residents Declutter Sustainably

Chicago-based pickup service makes it easier to reduce waste, support global reuse efforts, and give back to local communities—one...

Must read

MFEV Marathon Success in Serbia: Celebrating Runners, Community, and Charity

MFEV proudly announces the successful conclusion of the MFEV...

Top Cryptos Under $1 to Buy in 2024: Invest Now!

Top Cryptocurrencies to Consider for 2024: Best Picks for...

Must-Grab Crypto Airdrops This August 2024

Get Ready for Exciting Upcoming Crypto Airdrops! Prepare yourself for...

Trending Now: The 5 Best Tap-To-Earn Games Across the Globe

Earn Crypto with These Top 5 Tap-to-Earn Telegram Games The...

Rising Bitcoin Scam in Munich: Police Warn Against Fake Paper Wallets

The Bavarian State Criminal Police Office warns against Bitcoin...

You might also like
Recommended to you