Bitcoin under surveillance on Bali

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According to local reports Bitcoin is under heavy surveillance on an Indonesian island of Bali. The officials are looking for any possibility to stop the cryptocurrency trading in the country.

Rupiah only

Causa Iman Karana, of the Bank Indonesia’s Bali office, said:

“We found out from some postings on social media that Bali appeared to have become a haven for Bitcoin transactions. The next step is we will ban them as mandated by the law. We ask them not to use it anymore. Along with the Directorate of Special Crime Investigation unit, we will enforce the rule that all transactions in Indonesia must use rupiah.”

The increased scrutiny apparently comes as an answer to money laundering and criminal activity risk related to cryptocurrencies. This rhetoric comes as a surprise in a country with a significant local adoption.

Australia is still a lot more crypto-friendly than some of its Asian neighbours. Just as Indonesia – China and South Korea are also considering a cryptocurrency ban.

 

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