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During a fit-and-proper test for deputy governor, the assistant governor of Bank Indonesia, Juda Agung, said that the trading of crypto assets has an impact on the financial system, and CBDC is a tool to combat Bitcoin, says Bank of Indonesia exec Central bank digital currencies (CBDC), digital versions of national currencies introduced in response to growing cryptocurrency adoption, would be an essential Speaking at a recent parliamentary meeting, Juda Agung, the assistant governor of the Bank of Indonesia, said that the Central Bank of Indonesia is considering Las monedas digitales del banco central (CBDC), versiones digitales de las monedas nacionales introducidas en respuesta a la creciente adopción de criptomonedas The central bank of Indonesia is willing to issue a digital form of its national currency as a way to “fight” private digital assets. The financial institution believes a CBDC CBDC would be a part of an effort to address the usage of crypto in financial transactions, said Juda Agung, assistant governor of the Central Bank of Indonesia.

Bank of Indonesia Executive: CBDC as a Weapon Against Bitcoin's Rise

The Bank of Indonesia is actively exploring Central Bank Digital Currencies (CBDCs) as a strategic response to the growing popularity of cryptocurrencies, particularly Bitcoin. According to Juda Agung, assistant governor of the Bank of Indonesia, the central bank views a CBDC as a key tool to combat Bitcoin's influence and mitigate the potential risks associated with its widespread adoption.

Speaking at a recent parliamentary meeting, Juda Agung emphasized that the Central Bank of Indonesia is seriously considering las monedas digitales del banco central (CBDC), versiones digitales de las monedas nacionales introducidas en respuesta a la creciente adopción de criptomonedas (Central bank digital currencies (CBDC), digital versions of national currencies introduced in response to growing cryptocurrency adoption). This move reflects a global trend among central banks looking to maintain control over monetary policy in the face of decentralized digital assets.

During a fit-and-proper test for deputy governor, assistant governor Juda Agung further elaborated on the rationale behind this initiative. He stated that the trading of crypto assets has a significant impact on the financial system, and therefore, the introduction of a CBDC is a crucial step. He firmly stated, CBDC is a tool to combat Bitcoin, says Bank of Indonesia exec.

The central bank of Indonesia is willing to issue a digital form of its national currency as a way to “fight” private digital assets. The financial institution believes a CBDC CBDC would be a part of an effort to address the usage of crypto in financial transactions, said Juda Agung, assistant governor of the Central Bank of Indonesia.

Central bank digital currencies (CBDC), digital versions of national currencies introduced in response to growing cryptocurrency adoption, would be an essential tool for the Bank of Indonesia in maintaining financial stability and overseeing the rapidly evolving digital landscape.

In conclusion, the Bank of Indonesia's development of a CBDC isn't just about modernization; it's a deliberate strategy to counter the growing influence of Bitcoin and other cryptocurrencies, ensuring the central bank retains its control over the national currency and financial system.

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