The central bank of Indonesia continues to warn its citizens against the use of cryptocurrencies. In a press release issued on January 13th, entitled \"Bank Indonesia Warns All Parties Not to Sell, Buy, or Trade Virtual Currency,\" Bank Indonesia reiterated that virtual currencies are not recognised as a legitimate instrument of payment within Indonesia.

In September 2017, Bank Indonesia stated that it would not accept Bitcoin (BTC) as a form of payment, which led to two Indonesia-based exchanges (TokoBitcoin and BitBayar) voluntarily closing down. Bank Indonesia continues to express concerns over the potential for cryptocurrencies like BTC, ETH, ZDR, etc, to be used for money laundering. They also include the potential for funding terrorism as an explanation for their campaign.

The statement mentions the \"bubble risks\", as well as illicit activities, as reasons to be cautious, as they have the potential to impact the stability of financial systems and cause \"financial harm to society.\" While still not instituting an official ban, the Bank\'s warning takes a harsher line than their previous statements merely advising Indonesian citizens to be careful.

Other countries issuing recent warnings include Algeria and Egypt, whose Grand Mufti issued a Fatwa against cryptocurrency trading in the New Year.