As reported by Reuters, Indonesia's Financial Services Authority (OJK) has reminded financial firms that they cannot promote or enable crypto-related marketing activities.

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OJK warns of "Ponzi scheme scams in crypto investments" but does not specify what punishment will be enforced on enterprises that break the rules. However, the Commodity Futures Trading Regulatory Agency (CFTRA) does not completely outlaw cryptocurrency trading.

In June 2021, Bank Indonesia outlawed the use of cryptocurrencies as legal cash or other financial services instruments by Indonesian A legitimate payment mechanism, according to the bank's Governor, Perry Warjiyo is a debit card. It would also form field supervisors to ensure financial institutions follow rules.

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