Bitcoin use under scrutiny in Bali amid warnings by central bank over risks
Probe started following Dec 7 ban on use of cryptocurrencies in payment systems: official
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Kuta, Indonesia
INDONESIAN authorities are investigating the use of bitcoin in the holiday island of Bali, amid warnings by the central bank in South-east Asia's biggest economy over the risks posed by virtual currencies, an official said.
The probe started after the central bank on Dec 7 last year issued a regulation banning the use of cryptocurrencies in payment systems, said Causa Iman Karana, head of Bank Indonesia's (BI) representative office in Bali. "We found out from some postings on social media that Bali appeared to have become a haven for bitcoin transactions," he added.
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