Re: Is Bitcoin illegal in Indonesia

Quote from: KryptoCGN on June 18, 2018, 04:10:32 PM

Quote from: jseverson on June 18, 2018, 12:52:53 PM

You can buy and sell Bitcoin with fiat, but you can't use them to pay for anything. For as long as you don't use them to purchase goods/services, you should be fine.

Source:

Quote from: https://asia.nikkei.com/Politics-Economy/Economy/Bank-Indonesia-declares-bitcoin-payment-illegal

The regulation, however, only prohibits the use of cryptocurrencies as a payment tool, and does not regulate activities such as bitcoin mining and trading.

As a sidenote, you can't use any foreign currency to buy anything within the country in normal circumstances either, so this isn't specific to Bitcoins or crypto. The Rupiah is their only legal tender.

You can't use them in order to buy anything means you can't use bitcoin in oder to buy altcoins, right?

No.You can buy altcoins with your bitcoin for that you have to login to an exchange and deposit your bitcoins there and trade it for your desired altcoin(s).Only you can't use them to buy goods which means you can't use it as a payment option like in shops to buy a mobile or a car like that but altcoins is an another crypto currency so you have no problem with that and more over no one will know what altcoins you have once you move them into a safe wallet.