The Financial Services Authority warned about the risks related to digital assets and banned local companies from offering crypto opportunities.
The top monetary watchdog of Indonesia – the Financial Services Authority – reportedly prohibited local companies from using, offering, or facilitating cryptocurrency services. The regulator believes dealing with bitcoin and the altcoins is risky due to their enhanced price fluctuations.The authorities of the Asian country have displayed a hostile stance towards the cryptocurrency industry over the past several months.
“OJK has strictly prohibited financial service institutions from using, marketing, and/or facilitating crypto asset trading.”
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