In Indoneziei cryptocurrency is recognized as the stock commodities

According to the newspaper the Jakarta Post, despite the fact that Bank Indonesia (BI) does not recognize the cryptocurrency as a payment instrument, the Indonesian Supervisory Board for the futures market (Bappebti) under the Ministry of Commerce recognized cryptocurrency exchange commodities that can be traded in the futures market.

«The head of Bappebti has ruled that cryptocurrencies are a commodity to be traded on a futures exchange», — said the head of the Bureau for market surveillance and development Bappebti Dharma Yoga (Dharma Yoga).

Dharma Yoga is also noted that the adoption of this resolution were conducted a 4-month study of this question. To make this decision official status, the Agency signed a decree that creates all conditions in order to Indonesia started trading cryptocurrency derivatives. Yoga said that the country’s Central Bank and its tax division to develop rules to regulate crypto-currency exchanges and taxation, which will be published shortly.

In the development of the resolution involved a number of agencies, such as the Bank of Indonesia, Management of financial services (OJK), the Department of taxation, Division of reports and analysis of financial transaction (PPATK) and the National Department of police to combat terrorism.

Last year, Bank Indonesia has banned
calculations cryptocurrency in the country, as they are not legal tender.

Dharma added that the development of regulation Bappebti also called cryptocurrency existing resources, such as Indodax and Crypto Community to submit their proposals for the specifications of the product and the shopping procedure:

«We call on the cryptocurrency exchanges to prepare specific proposals on this issue».

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