central banks

Bitcoin Banned as a Payment Method in Indonesia, Adopters Will Be ‘Dealt With’

Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month. The head of Bank Indonesia, Indonesia’s central bank, has threatened action against Bitcoin adopters if the cryptocurrency is used as a method of payment. First reported by CCN in early 2014, the country’s central bank issued a public notice warning citizens to be careful of adopting virtual currencies. “Bank Indonesia states that Bitcoin and other virtual currency are not valid currency or payment instruments in Indonesia,” read [...]

‘Massive Disruption’: IMF’s Lagarde Says Cryptocurrencies Must Be Taken Seriously

Christine Lagarde, managing director of the international monetary fund (IMF), has warned that central banks and financial services need to pay closer attention to cryptocurrencies. Speaking to CNBC at the IMF’s Annual Meetings in Washington D.C., Lagarde said: “I think that we are about to see massive disruptions.” According to Lagarde, cryptocurrencies could play a future role in updating the IMF’s own internal currency, a reserve asset named the Special Drawing Right (SDR). She said: “What we will be looking into is how this [...]