Bank Indonesia bans fintech firms from using cryptocurrencies in payments

Bank Indonesia bans fintech firms from using cryptocurrencies in payments

Photo: Bank Indonesia website

Indonesia’s central bank has issued a regulation banning use of cryptocurrencies by financial technology companies involved in payment systems, and said it is examining whether there’s a need to regulate trading on virtual currency exchanges.

“Financial technology operators are banned from using virtual currency in payment system activities,” said Sugeng, a deputy governor at Bank Indonesia (BI).

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