Is Bitcoin On The Ropes? Indonesia’s CBDC Aims To Give A Fight
As Bitcoin has been declared ‘haram’ in Indonesia and the country’s Central Bank considers issuing a digital rupiah, an official suggested in the parliament that a central bank digital currency (CBDC) would be instrumental in fighting the threat that cryptocurrencies’ trading represents for the banks and fiat money. This is shared thought with other central […]
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Bank Indonesia, the country’s central bank, is reportedly considering issuing a central bank digital currency (CBDC) to fight the use of cryptocurrency. “A CBDC would be one of the tools to fight crypto. We assume that people would find CBDC more credible than crypto,” said an assistant governor of the central bank. Central Bank Sees CBDC as Tool to ‘Fight Crypto’ Juda Agung, an assistant governor of Bank Indonesia, the country’s central bank, talked about cryptocurrency and central bank digital currency (CBDC) during his parliamentary “fit....
“CBDC would be part of an effort to address the use of crypto in financial transactions,” Bank of Indonesia’s assistant governor Juda Agung said. Central bank digital currencies (CBDC), digital versions of national currencies introduced in response to growing cryptocurrency adoption, would be an essential tool for combating crypto, according to the Bank of Indonesia.The central bank of Indonesia is considering launching a digital rupiah to “fight” against cryptocurrencies like Bitcoin (BTC), Bank of Indonesia’s assistant governor Juda Agung said at a recent parliamentary meeting.“A CBDC....
Indonesia’s central bank is sending supervisors out to ensure local financial institutions aren’t defying the nationwide ban of crypto payments this bull season. Indonesia’s central bank governor, Perry Warjiyo, is mobilizing official supervisors to enforce the country’s ban on financial institutions using crypto assets as a means of payment.During a virtual seminar on Tuesday, June 15, Warjiyo reiterated that local financial firms and payment provided are prohibited from facilitating the use of cryptocurrency to settle payments or as an instrument used in other financial services.The....
Kwame Oppong, an executive at Ghana’s central bank, told Cointelegraph that a CBDC could give their citizens the opportunity to use a "decent form of payment." As more countries make progress in terms of developing and implementing central bank digital currencies (CBDCs), Ghana’s central bank aims to keep up and complete its research on CBDCs with the goal of financial inclusion, according to Kwame Oppong, the head of fintech and innovation at the Bank of Ghana.In an interview with Cointelegraph’s Elisha Owusu Akyaw at the Africa Money & DeFi Summit, Oppong laid out the reason behind the....
After banning crypto payments back in 2017, Indonesia is looking to allow payments in a digital rupiah currency. The Bank of Indonesia is one of the latest global central banks to announce state digital currency plans amid a major spike in the country’s digital payments.Governor Perry Warjiyo said Tuesday that Indonesia’s central bank is planning to launch a digital rupiah currency as a legal payment instrument in Indonesia, Reuters reports.The official noted that the rupiah is the only legally accepted currency for payment in the country so far, and BI will be looking to regulate a....