INDONESIA FINALLY RECOGNIZES BITCOIN AS A COMMODITY

 

Keeping an eye on regulatory developments in the crypto market is worth it as it displays the progress made on a particular coin.

Bitcoin and other similar currencies future has really posed a lot of trauma and confusion to the few number of investors of cryptocurrencies in Indonesia. The country’s trade ministry future exchange supervisory board has finally rendered a verdict on the matter. Personally, i think cryptocurrencies are already a commodity whether the country’s central bank accepts it or not.

It is however not a new thing that Indonesia is just putting this into consideration now, because most countries around the globe are yet to legalize this new technology in their country. It is so for just one reason, it is a form of money most people have not seen or experienced before.

Seeing how the trade ministry’s futures exchange supervisory board directly contradict the central bank, has really created a very interesting scene. For now, crypto has already been signed to be considered as a commodity in the country.

After comparing and contrasting, this is regarded as a bullish signal for all cryptocurrencies because, most investors were afraid that the government would place a ban on it rather than accepting it in a somewhat positive manner. Looks as if there will be a light at the end of the tunnel, even though a lot of specifics ha ave not yet been revealed.

Editor-in-Chief @Coindaily_co and Bitcoin enthusiast