While Bitcoin continues to rise in terms of market value and spread in terms of awareness and usage in many different countries, things aren’t going so well for it over in Indonesia. As of today, the local regulator has influenced two major Bitcoin payment platforms to shut themselves down, as it does not recognize Bitcoin as a valid means of payment, Deal Street Asia reports.
Indonesian payment platforms Toko Bitcoin and Bitbayar have been closed down to comply with Bank Indonesia (BI) announcements, which echo sentiments first made by the same institution in 2014. In three years, it seems that BI has not changed its opinion on cryptocurrencies, saying that it can’t be used as a valid currency or payment instrument anywhere in Indonesia…
Read Full: Indonesian Bitcoin Exchanges Close Down amidst Regulatory Pressure
