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Capital Markets

Bank Indonesia steps up warnings against cryptocurrency trade

Practice is 'susceptible to money laundering, terrorism funding'

JAKARTA -- Following its ban on the use of cryptocurrencies as a payment tool last year, Indonesia's central bank has stepped up its warnings against trading in virtual currencies -- citing the practice's susceptibility to abuse by criminals, as well as systemic risks.

Bank Indonesia made a statement at the weekend highlighting the highly risky and speculative nature of the use of digital tokens.

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