Massive cryptocurrency waiting for legality

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Massive cryptocurrency waiting for legality

Massive cryptocurrency waiting for legality

The use of Bitcoin as a recognized cryptocurrency is indeed not widespread in Indonesia. Nevertheless, Indonesia is also recognized as a potential for large wetlands with cryptocurrency.

President of the Indonesian Association of Cyber ​​Law Observers (HPHSI), Galang Prayogo, predicts that the Bitcoin market will increase in 2019.

In addition, the use of cryptocurrencies in Indonesia is still gray due to the lack of regulation making exchange rates fluctuating very rapidly.

According to him, one of the factors behind the increase in the number of Bitcoin users is the ratification of the rules governing the cryptocurrency rules as legal guarantees for crypto-currency players.

"Government regulation can be an optimal stimulus to revive the Bitcoin market," Galang said in an official statement Monday (31/12).

Rumor has it that the Goods Commodity Trading Regulatory Agency (Bappepti) has authorized bitcoin as a commodity. Therefore, the ball is now on Bappepti.

"In the middle of this year, it was announced that Bappepti had ratified cryptocurrency as a commodity to be traded on the futures market.We are now waiting for further discussions between Bappepti and the organizers or suppliers of cryptocurrency", said Galang.

He believes that the debate on the legality of cryptocurrency can be completed in 2019, so that bitcoin can be expanded.

"The exchange rate is actually a consideration for the players, but the stimulus in the form of rules of the game is clearly a major factor that can make Bitcoin again cluttered," said Galang.
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