Crypto is facing trouble in Indonesia. The country's financial watchdog, the Otoritas Jasa Keuangan, warns institutions in the country against offering or facilitating crypto-asset sales.
Indonesia’s financial watchdog the Otoritas Jasa Keuangan warned financial institutions in the country against offering or facilitating crypto-asset sales.a warning against the growing number of crypto Ponzi schemes and risks of crypto investments owing to the market’s volatility. The official post also quoted the chairman Wimboh Santoso who said financial institutions are strictly prohibited from offering crypto sale services in any form.
“OJK has strictly prohibited financial service institutions from using, marketing, and/or facilitating crypto asset trading.” The current warning against crypto investments and prohibition of crypto trading services for financial institutions comes on the heels of several calls for a ban on crypto use from the country’s leading Islamic non-government organizations . As Cointelegraph reported earlier, a total of three Islamic organizations have issued a fatwa against crypto use by Muslims, deeming it haram.
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