Share this article
Indonesia’s Central Bank Wants to ‘Fight’ Crypto With CBDC: Report
“We assume that people would find CBDC more reliable than crypto,” a bank official said.
Updated May 11, 2023, 6:33 p.m. Published Nov 30, 2021, 9:12 a.m.
Indonesia is considering developing a central bank digital currency (CBDC) as one way to counter the use of cryptocurrency in the country.
- Juda Agung, an assistant governor of Bank Indonesia, said in the parliament that a digital rupiah would address the effect crypto trading has on the financial system, Bloomberg reported Tuesday.
- “A CBDC would be one of the tools to fight crypto,” he said. “We assume that people would find CBDC more reliable than crypto.”
- Indonesia’s central bank announced its intention to develop a CBDC in May.
- Religious leaders in the country declared earlier this month that Muslims are forbidden from using crypto owing to elements of uncertainty and wagering. Indonesia has one of the world’s largest Muslim populations.
- As many as 7.4 million Indonesians were invested in crypto as of July, double the number of a year previously, according to Bloomberg’s report.
Read more: India Has No Plans to Recognize Bitcoin as Currency; RBI Working on CBDC Rollout: Reports
STORY CONTINUES BELOW
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
U.S. Senate's Warren asks for Trump-tied crypto probe as market structure bill drags
The influential Democrat is the most vocal critic of the crypto legislation, and she continues to throw rhetorical sand in the gears of the negotiation.
What to know:
- U.S. Senator Elizabeth Warren, the ranking Democrat on the Senate Banking Committee, is calling for a probe into DeFi platforms, especially on their relationship with the business interests of President Donald Trump.
- Warren's pushback comes as the Senate is still negotiating the details of a crypto market structure bill, a process that's now drifted into January.
Top Stories
