Despite Bank Indonesia (BI) prohibiting the use of digital currencies like Bitcoin as a payment instrument, the central bank is considering issuing a cryptocurrency or digital rupiah. Assistant to BI executive director for payment systems Susiato Dewi said the digital rupiah would be trialled this year in an effort to help make the payment system more efficient. “The physical banknotes we currently use may be converted […]
Read MoreKUALA LUMPUR: Palm oil output in the world’s top two producing countries is forecast to climb to new highs this year as output fully recovers from its El Nino-stunted 2017 level, pushing 2018 average prices down by 7 percent from last year, a Reuters poll showed. Benchmark prices are forecast to average 2,620 ringgit ($676.30) […]
Read MoreTEMPO.CO, Jakarta – The application-based transportation company, Grab Indonesia, supports the government to ensure that the driver-partner puts the special rent-labeled stickers on its vehicles. The sticker installation is one of the provisions stipulated in the Minister of Transportation Regulation No. 108 on the implementation of non-route public transport. Managing Director of Grab Indonesia Ridzki Kramadibrata said that he had […]
Read MoreTEMPO.CO, Jakarta – The Financial Services Authority (OJK) confirmed that virtual currency, including Bitcoin, is not a valid payment instrument in Indonesia. The provision has been valid since the beginning of the year. OJK Chairman of the Board of Commissioner Wimboh Santoso said that the legitimate means of payment in Indonesia is rupiah. “Crypto (cryptocurrency) is already banned,” […]
Read MoreTEMPO.CO, Jakarta – The Energy and Mineral Resources Ministry reported that FreeportIndonesia`s copper concentrate permit will expire as soon as next month. The Ministry suggested that the mining company must submit a new recommendation from the Indonesian government to continue its overseas concentrate sales. Director General of Coal and Mineral Bambang Gatot Ariyono said that Freeport must fulfill […]
Read MoreTEMPO.CO, Jakarta – Bank Indonesia (BI) stated that the digital currency Bitcoin possesses the potential to be used as terrorism funds and in money laundering crimes as its transactions are being done under a pseudonym. “For that reason, the government and BI have reminded the public to avoid using Bitcoin as a means of payment, as it violates the […]
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