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.

Stephanie Evanshttps://www.newsalarms.com/
I'm the lady 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

Bitcoin (BTC) Analysis, Ethereum (ETH) Analysis: October 21, 2021

Bitcoin (BTC) Unsurprisingly, bitcoin established a new ATH. It would be enough to reach $ 65,000 (€ 55,849), but the bulls decided to...

There will be sports on Polygon (MATIC)! DrafKings becomes network validator

As of May 2021, the Polygon (MATIC) blockchain has become one of the favorite alternatives to Ethereum (ETH) for DeFi users and...

Pakistan not to ban bitcoin (BTC) and other cryptocurrencies

Minister of State for Parliamentary Affairs Ali Muhammad Khan met yesterday in Pakistan with representatives of the National Assembly. The...

What is 2FA (Two-Factor Authentication)?

2FA is the English abbreviation for Two-Factor Authentication, which can be translated into French by two-factor identification. It is a...

Bitcoin may help El Salvador get IMF tranche: Central Bank Governor

The introduction of bitcoin as the official currency will not interfere with El Salvador's negotiations with the IMF for...

Less dollars, more bitcoins, Salvadorans regain control

alvadorans are investing more and more in Bitcoin to protect themselves from inflation. Bitcoins purchased with US dollars would exceed...

Must read

There will be sports on Polygon (MATIC)! DrafKings becomes network validator

As of May 2021, the Polygon (MATIC) blockchain has become one of...

Pakistan not to ban bitcoin (BTC) and other cryptocurrencies

Minister of State for Parliamentary Affairs Ali Muhammad Khan...

Bitcoin may help El Salvador get IMF tranche: Central Bank Governor

The introduction of bitcoin as the official currency will...

Less dollars, more bitcoins, Salvadorans regain control

alvadorans are investing more and more in Bitcoin to...

Binance in full burn out: half a billion in BNB missing

Binance has regularly destroyed a fraction of its native...

You might also like
Recommended to you