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?

You're essentially just trading Bitcoin so that should be fine. Crypto activities as a whole was unaffected as far as I know.

Either way, I think there was a crackdown a few months ago, and they mainly went for merchants which accept Bitcoin. You, as a buyer, shouldn't get into too much trouble for offering to buy things for Bitcoin unless you do it blatantly. Merchants would bear most of the responsibility as they're not allowed to accept in the first place.