Indonesia’s Central Bank wants to fight crypto with CBDC

by in Cryptocurrency News

Indonesia

Recently, more and more countries have announced their readiness to issue a national digital currency (CBDC).

Moreover, central banks do not hide the fact that by integrating their token into the financial sector of the state, they intend to reduce the impact of bitcoin.

Judah Agung of Indonesia's Central Bank takes the same view.

According to him, the influence of decentralized cryptocurrencies is so great that regulators are seriously afraid that the financial sector will get out of their control. The CBDC aims to solve this problem if the authorities can convince citizens and businesses to switch to a national digital currency.

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Agung emphasized: "CBDC will be one of the tools to fight cryptocurrencies. We believe people will trust CBDC more than cryptocurrencies."

Note that the Indonesian clergy has recently issued a fatwa, which refers to the ban on the purchase of bitcoin and other virtual currencies.

Indonesia's Council of Religious Leaders, which is in charge of Sharia Compliance, said Muslims should avoid cryptocurrencies and not transact with such assets, as they do not obey Islamic law.