Few definite entrepreneurs in Indonesia seek bitcoin legalization since the cryptocurrency is efficient and transparent than the traditional payment methods.
Various countries have been making plans to legalize the use of bitcoins in their regions. Japan has plans for legalizing Bitcoin in the next few weeks while Luxembourg has granted an official business license to Bitstamp exchange. Indonesia on the other hand has not been having official legislation regulation.
Earlier, in an article on okezone.com, an Indonesian journalist said that Indonesia should follow Japan and support the use of bitcoin, in light of progress that other countries are making. The article noted that bitcoin has been approved as a legal currency in Japan. Japan’s Financial Services Agency, which manages the circulation of the yen currency, will regulate bitcoin, said the article.
Later, certain entrepreneurs in Indonesia feel there is no better time than now to start the legalization process of Bitcoin. Digital Marketing Specialist Anthony Leon voiced his view on cryptocurrency saying that, “Bitcoin has become an accepted form of payment for both digital and physical goods. Although this technology has no link to traditional finance, it is more efficient due to its decentralised and peer-to-peer nature of technology. Developing countries can benefit from legalising Bitcoin, and I feel the cryptocurrency will gain recognition as a global currency in the future.”
Though entrepreneurs suggest, employees and government has to be educated on bitcoin and its outcome. Although this may take few years, Indonesia is soon expected to see a shift in legalization of bitcoins.
