Indonesia needs additional regulation to overshadow the existence of Bitcoin and digital assets.
Chairman of Blockchain Indonesia Association Oscar Darmawan said cryptocurrency is more fitting to be seen as a commodity.
He refers to Law No. 10 of 2011 on trade which refers to commodities as goods and rights which can be subject to agreement or activity on goods or services whether tangible or intangible. So the current regulation is not enough.
"The legislation is simply not enough. Further regulations are needed, "he said, Tuesday (20/2).
Meanwhile, Oscar approved the government's decision prohibiting all payment activities using cryptocurrency. The reason, the decision is in accordance with Law Number 7 of 2004 concerning the currency that only recognizes the Rupiah as a legal means of payment in Indonesia.
He also exemplifies Japan as the best country in adopting cryptocurrency. Other countries in Europe and the United States are also active in making new regulations on this matter. While in Southeast Asia, Oscar sees no country has made clear regulation.
Forms Association
Furthermore, Oscar revealed today the cryptocurrency industry has formed an association to communicate to the government. Oscar who is also the founder of Bitcoin Indonesia also served as chairman of the association.
He explained that one of the association konsetrasi being discussed is the legal position of cryptocurrency in Indonesia.
"I think people have called us. Almost all ministries, all regulators. They called us to ask for feedback, "said Oscar.
Later, Oscar often wara-wiri in various forums special cryptocurrency or economy in general. Currently, the discussion about Bitcoin and other digital assets are also increasingly mushrooming.
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