The foreign ministers of the BRICS states have reached out to invite Indonesia to become a member of the group, their Indonesian counterpart unveiled. The government in Jakarta is still weighing the benefits of joining the organization and is yet to decide whether to apply formally. BRICS Nations Sought to Induct Indonesia Into Their Expanding…
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Vietnam, the Philippines, and Brunei will join a QR payment system to settle cross-border payments using local currencies within the Association of Southeast Asian Nations (ASEAN) bloc. The network, already being used between Indonesia and Malaysia, aims to interconnect all ASEAN nations to reduce their dependence on the U.S. dollar. Vietnam, the Philippines, and Brunei…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: US Justice Department Revamps National Crypto Enforcement Team, Wormhole Releases Gateway Developed within Cosmos, Indonesia’s Stock Market and Clearing House for Digital Assets Finally Operational Read more »Sign…
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The platform, monitored by local regulators, will be the only space in the country where the legal exchange of digital assets is allowed. The national cryptocurrency exchange announced by the Indonesian government a week ago has begun to function, according to a statement from the country’s Commodity Futures Trading Supervisory Agency, known as Bappebti. The…
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Once launched, Indonesia’s national crypto exchange will be the only platform allowing crypto transactions, the local regulator said. The government of Indonesia is moving forward with its plans to launch a national cryptocurrency exchange, and expects to debut the platform in the coming weeks. Indonesia’s Commodity Futures Trading Supervisory Agency (CoFTRA), also known as Bappebti,…
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In contrast to the regulatory stance taken by the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Supervisory Agency (CFTSA) of the Republic of Indonesia has officially labeled 501 cryptocurrencies as commodities. The list of these digital assets includes popular tokens such as bitcoin, ethereum, usd coin, litecoin, and several others that the…
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In mid-May, several reports indicated that Bangladesh and India were engaging in currency trading using their respective currencies in order to address U.S. dollar liquidity challenges. Recent sources now reveal that Bangladesh is welcoming a formal invitation to join the BRICS bloc. Speaking to reporters on Monday, AK Abdul Momen, the foreign minister of Bangladesh,…
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The government of Bali, Indonesia, is cracking down on the use of cryptocurrency as a means of payment by foreign tourists. “Strict actions range from deportation, administrative sanctions, criminal penalties, closure of business premises, and other tough sanctions,” said the governor of Bali. Strict Penalties Imposed for Foreign Tourists Using Crypto in Bali, Warns Governor…
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The popular Indonesian tourist island Bali will tighten rules around payments to make it harder for foreign tourists to pay with crypto. Speaking at a press conference on Sunday, Bali Governor Wayan Koster indicated that the tighter rules on payments are part of a wider crackdown on what he called inappropriate behavior by tourists on…
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Cryptocurrency trading is legal in Indonesia, but the use of crypto in payments carries hefty penalties including jail time. Bali’s government is cracking down on tourists paying for goods and services using cryptocurrency, with the island’s governor sending a reminder that Indonesia’s fiat currency is the only legal tender. On May 28, the government-owned news…
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