Indonesia Is Not Following In The Footsteps Of China Banning Cryptocurrency Transactions

The Indonesian government, unlike the Chinese government, has no plans to completely ban cryptocurrency transactions in the country.

  • According to Beritasatu’s report, Indonesia’s crypto money policies will not follow China’s footsteps, announced by Minister of Commerce Muhammad Lutfi.

  • Regarding cryptocurrency transactions, the Minister said, “We don’t ban them, but We will tighten the regulations even more.said.

  • In line with regulation 99, which entered into force in 2018 legally The interest in cryptocurrencies in Indonesia, where cryptocurrencies can be traded, has increased recently.

  • According to the data announced by the Ministry of Commerce, a total of 64.9 trillion rupees of crypto money transactions were made in the country in 2020. 370.4 trillion rupees for the period January-May 2021 it happened.

  • Total number of cryptocurrency users in Indonesia in a year more than twice It is estimated to increase to over 4.2 million.

Image: Indonesian flag (image modified by Koin Bulletin)

The article titled Indonesia Does Not Follow the Footsteps of China Banning Cryptocurrency Transactions was prepared by Ömer SAKMAR and published on

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