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Bitcoin CEO Agrees with BI to Not Recognize Bitcoin as Currency

Translator

Editor

14 December 2017 08:02 WIB

Bitcoins. KAREN BLEIER/AFP/Getty Images

TEMPO.CO, Jakarta - Bitcoin Indonesia CEO Oscar Darmawan says that Bitcoin is not a currency. Therefore, he expects the government to issue a regulationon its exchange market or plant.

Oscar agrees with Bank Indonesia’s decision not to recognize Bitcoin as a currency. “We agree with BI regulation and we support it,” he says in Jakarta yesterday.

Oscar explains that Bitcoin is a digital data asset which supply and demand can be traced starting from its issuance. “Bitcoin is being traded as a digital data asset,” he says.

Speaking to Bitcoin.co.id, Oscar says that there are a number digital assets being traded but bitcoin has the highest price.

Oscar claims that he has 700,000 members who actively make transactions. He said that bitcoin price that currently stands at Rp250 is reached after experiencing market volatility from it previous prices of Rp8 million – Rp10 million.

“So why is it traded hundreds of million [rupiahs]? Because bitcoin’s availability is limited. The amount of bitcoin issuance and price cannot be regulated,” Oscar says, adding that it is decided by the market.

TAUFIQ SIDDIQ

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