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OJK: Indonesia Bans Bitcoin, Other Virtual Currencies

TEMPO.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,” […]

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Indonesia: Freeport Export Permit May Not be Extended

TEMPO.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 […]

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Indonesia: Nearly 95% of retailers enter digital race: Aprindo

While maintaining their physical retail outlets, nearly all retailers in the country had joined the digital revolution in a bid to compete with established online marketplaces, Indonesian Retailers Association (Aprindo) chairman Roy Mandey said in Jakarta recently. “We cannot totally go digital, but we have to mix both offline and online sales,” Roy said, and that at least 35,000 […]

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Indonesia – New Rules: Imported Toys for Personal Collection Do Not Need SNI

TEMPO.CO, Jakarta – The Ministry of Industry, Ministry of Trade, Directorate General of Customs and Excise, also Indonesian Standardization Body have agreed on the exception provision of Indonesian national standard rules (SNI) about the imported toys. Director General of Small and Medium Industries (IKM) of the Ministry of Industry, Gati Wibawaningsih confirmed that the rule’s exclusion of […]

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