Some Country have Banned Crypto
For crypto lover this kind of bold measure taken by government are not really good move. Looking at how blockchain has develop and also the ecosystem around it. But still there are several country that still banned crypto. China for example is still banning crypto, and the latest are Nigeria and also Morocco. also there are several countries in South America which also still banned cryptocurency. The main reason for it is that the crypto is not safe and there might be a risk of it being used by terrorist. Doesn't fiat has been used that way for decade?
Crypto is Illegal But Legal in Indonesia
Crypto is Illegal But Legal in Indonesia
Yes you heard it right, Crypto is still illegal in Indonesia. But only if you are using it as a formal payment, or a means of payment. Because there by the Law which regulate they Legal means of payment in Indonesia is the bill which issued by the Republic of Indonesia which is *Rupiah* , and other than that are illegal.
In the other hand, there are also a rule issued by the authority that stated crypto is a legal only if it is treated as a trading goods. The latest, we have 229 crypto asset which is announce as legal to be traded in Indonesia. you can see the list here
Follow The Legal or Illegal?
To accommodate the rule issued by the authority, they then encourage most of crypto exchange which operate in Indonesia to be registered. As of now there are 13 exchange which are legally registered under Indonesian law. You can check the list in my other post here and according to statista up until now there almost 4500 crypto out there, while those considered legal in Indonesia only 299. So it is your choice, follow what consider legal, or just go for the risk and go for illegal, or maybe just play around in the grey area. But always Do Your Own Research so that you are not get rekt.
