Global adoption of cryptocurrencies is on the rise. Indonesia, local crypto- establishes international plans for the currency.
Indonesia Wants to Promote Local Cryptocurrency
Cryptocurrencies now continue to be tested by governments for use in international trade payments. According to the Indonesian government’s statement, the country’s local cryptocurrency can be used for international trade.
jakarta, crypto- While taking an active interest in regulating the industry, President Joko Widodo’s administration sees benefits in helping the local token economy grow and plans to use the token in international trade as well. Making a statement on the subject, Jerry Sambuaga, Indonesia’s vice minister of trade, used the following statements:
Indonesia looks forward to having a large number of commodities to be exported. In this context, we can seize this opportunity to make crypto one of the potential products for export.
The use of cryptocurrencies as a currency for payments in Indonesia is prohibited under both local regulations and Islamic law, which applies to 87 percent of the country’s 273 people. However, crypto assets are classified as commodities in the country and fall into the same category as things like grain or gold.