International Journal of Social Science & Economic Research
Submit Paper

Title:
BITCOIN IN INDONESIA: ECONOMIC AND LEGAL ASPECTS

Authors:
Amrina Yulfajar, SE., MM; Kusuma Adi Rahardjo, SE., M.Pd

|| ||

Amrina Yulfajar, SE., MM; Kusuma Adi Rahardjo, SE., M.Pd
STIE Mahardhika, University in Surabaya, Indonesia

MLA 8
Yulfajar, Amrina, and Kusuma Adi Rahardjo. "BITCOIN IN INDONESIA: ECONOMIC AND LEGAL ASPECTS." Int. j. of Social Science and Economic Research, vol. 3, no. 8, Aug. 2018, pp. 4367-4377, ijsser.org/more2018.php?id=307. Accessed Aug. 2018.
APA
Yulfajar, A., & Rahardjo, K. (2018, August). BITCOIN IN INDONESIA: ECONOMIC AND LEGAL ASPECTS. Int. j. of Social Science and Economic Research, 3(8), 4367-4377. Retrieved from ijsser.org/more2018.php?id=307
Chicago
Yulfajar, Amrina, and Kusuma Adi Rahardjo. "BITCOIN IN INDONESIA: ECONOMIC AND LEGAL ASPECTS." Int. j. of Social Science and Economic Research 3, no. 8 (August 2018), 4367-4377. Accessed August, 2018. ijsser.org/more2018.php?id=307.

References
[1]. Herusantoso, Khamami. 2014. Bitcoin Opportunity or Threat ?. Article BPPK Ministry of Finance. https://bppk.kemenkeu.go.id/id/publikasi/artikel/419-artikel-technologyinformation/20274-bitcoin-properties-or-orror (Access Date June 29, 2018)
[2]. Lesmana, Dony. 2016. Digital Currency Cryptocurrency Officially Enter Indonesia. https://autotekno.sindonews.com/read/1156846/133/mata-uang-digital-cryptocurrencyresmi-masuk-indonesia-1479638752. access date June 25, 2018.
[3]. Mulyanto, Ferry. 2015. Utilization of Cryptocurrency as Application of Rupiah Currency Into Digital Forms Using Bitcoin Technology. IJNS - Indonesian Journal on Networking and Security - Volume 4 No 4 - 2015 - ijns.org
[4]. Noversyah. 2013. The development of Electronic Money in Indonesia Year 2009-2011: Regulation Review, Growth Volume and Transaction Value. Faculty of Economics. Gunadarma University.
[5]. Bank Indonesia Regulation Number 18/40 / PBI / 2016 concerning the Implementation of Payment Transaction Processing
[6]. Renata, Rio. 2017. History of Bitcoin Indonesia. https://www.seputarforex.com/artikel/sejarahbitcoin-indonesia-280413-38 (Access date June 29, 2018)
[7]. Setiawan, Sakina Rakhma Diah. 2017. The value continues to strengthen, bitcoin users Indonesia increased. https://ekonomi.kompas.com/read/2017/12/04/153000626/nilai-terusmenguat-user-bitcoin-indonesia-meningkat. Access date June 25, 2018.
[8]. Press Release of Bank Indonesia. 2014. Statement of Bank Indonesia Regarding Bitcoin and Other Virtual Currency. https://www.bi.go.id/en/ruang-media/siaranpers/Pages/SP_160614.aspx Access date June 29, 2018
[9]. Press Release of Bank Indonesia. 2018. Bank Indonesia Warns To All Parties To Not Sell, Buy or Trade Virtual Currency. https://www.bi.go.id/id/ruang-media/siaranpers/Pages/sp_200418.aspx. Access date June 25, 2018.
[10]. Press Release of Financial Transactions Reporting and Analysis Center. 2018. Careful Use of Virtual Currency.http://www.ppatk.go.id/siaran_pers/read/764/siaran-pers-hati-hati-uservirtual-currency.html Access date June 29, 2018
[11]. Sofian, et al. 2016. Implementation of Payments Using Bitcoin at Online Stores Based on Peer To Peer. Journal of SCRIPT Vol. 3 No. 2 June 2016 ISSN: 2338-6313
[12]. Solikin and Suseno. 2002. Money: Definition, Creation and Role in the Economy. Center for Education and Studies Kebanksentral of Bank Indonesia.
[13]. Republic of Indonesia Law Number 7 of 2011 concerning Currency.
[14]. Yuliadi, I. 2008. Monetary Economics.Jakarta: PT. Index.
Website
[15]. https://bitcoin.org/id/
[16]. https://tirto.id/bi-number-user-bitcoin-in-indonesia-merosot-tersisa-300-ribu-cHin
[17]. https://www.bi.go.id/id/edukasi-product-consumer/education/product-and-jasa-sp/uangelektronik/Pages/default.aspx
[18]. http://www.bitcoinfree.web.id/harga-bitcoin-from-years-2009-and-sejarah-perkembanganya/
[19]. http://www.bitcoinfree.web.id/harga-bitcoin-from-years-2009-and-sejarah-perkembanganya/
[20]. https://www.liputan6.com/bisnis/read/3235795/bi-dan-the-community-account-the-use-bitcoin
[21]. https://finance.detik.com/moneter/d-3633834/bitcoin-si-uang-sakti-udah-biasa-dipakai-di-thenegara-negara-ini
Interview
[22]. Allfred. 2018. Cryptocurrency Trader. Indonesia.

Abstract:
This paper is based on bitcoin phenomenon in Indonesia recently. Since the spike that occurred at the end of 2017, bitcoin attracted the attention of the people and Government, especially in Indonesia. Although not yet get the legality as in other countries, Japan, the United States and others, the circulation of bitcoin in Indonesia is quite popular. Writing this paper uses a qualitative approach by collecting literature in the form of articles, research journals, and publications from several credible websites on the internet as well as interviews with bitcoin practitioners in Indonesia. Until now, although many Indonesians have transacted using bitcoin, the Government of Indonesia has officially stated that bitcoin is not acceptable in Indonesia as a means of payment or equivalent currency in accordance with the laws and regulations of Bank Indonesia.