Security News > 2022 > January > Indonesia bars financial institutions from offering crypto services

Another week, another big economy restricting cryptocurrency.

In the tweet below, Wimboh Santoso, commissioner of Indonesia's financial services authority the Otoritas Jasa Keuangan, states that the agency has prohibited financial service institutions from using, marketing, and/or facilitating crypto asset trading.

In a later tweet, Santoso warned that his agency does not regulate crypto trading and that the value of crypto assets can fluctuate widely.

Indonesia is the world's fourth most populous country, and its sixteenth-largest economy.

The nation's government also allows crypto mining.

The new advice therefore restricts crypto trading but falls well short of a ban.

News URL

https://go.theregister.com/feed/www.theregister.com/2022/01/27/indonesia_cryptocurrency_trading_ban/