Governor Joewono said cryptocurrencies could be highly beneficial to Indonesia, but first rules should be implemented in the space.
Doni Primanto Joewono – Governor of the Bank of Indonesia – argued that cryptocurrencies could provide financial inclusion and benefit the global monetary network. However, the sector will be much more stable if it functions under a comprehensive regulatory framework, he added.During a G20 meeting in Bali, the Bank of Indonesia’s Governor
“Crypto-assets can potentially help emerge new risks that could affect economic, monetary, and financial system stability.” The Governor argued that such digital services will remain a trend even after the end of the coronavirus health disaster, and they will aid the future growth of the crypto industry.
, Japan, and many more have already conducted several experiments, while Indonesia is also part of that club:“A number of central banks are carefully continuing to study the possible effects of the CBDC, including Indonesia.”The population of Indonesia could significantly benefit if the government decides to open its arms to the cryptocurrency industry since locals have displayed huge enthusiasm toward the asset class. According to aconducted by Gemini, 41% of the questioned locals are HODLers.
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