Bitcoin is an authority that recognizes and regulates it

Bitcoin is a consensus network that allows new payment systems and money to be fully digital. Bitcoin is the first decentralized peer-to-peer payment network that is fully controlled by its users without any central authority or intermediary. From the user's point of view, Bitcoin is similar to cash in the internet world.

Nobody has a Bitcoin network, just as no one has email operation technology. Bitcoin is controlled by all its users around the world. Developers can indeed improve Bitcoin software, but they cannot force changes in the Bitcoin protocol because all users are free to choose the software and version they want to use. In order to remain compatible with each other, all users need to use software that follows the same rules. Bitcoin can only work well if there is full consensus among all its users. Thus, all users and developers have strong incentives to protect this consensus.

"Oh yes, we will regulate about that (investment in bitcoin). We actually have regulations regarding investment, especially bogus investments. There is also a Task Force," he said.

The OJK calls on the public or capital owners to first check the legal basis and everything before investing in virtual currencies such as bitcoin.

"We want to remind the public that there was a legal basis or not, we have a website and call center that we can contact if we are in doubt," explained Hoesen.

According to him, the use of virtual currency or bitcoin which is expressly stated is not a legitimate payment instrument, including as an investment product, of course there will be risks for the holders.

"The risk must exist. This virtual bitcoin currency is still closed, it is still a separate community. If money is a medium of exchange, if he wants to get out of the system, he must move again or withdraw first," said Hoesen.