Lawyers Attend Indonesia’s Int’l Anti-Crypto Crime Conference

Asia Blockchain Review
October 12, 2019
Lawyers Attend Indonesia’s Int’l Anti-Crypto Crime Conference

The Indonesian government recently hosted an international summit to educate lawyers on crypto-related crime, in an effort to curb the illegal use of Bitcoin and other crypto assets, according to a report by BTC Manager. 

The conference was attended by legal professionals from seven crypto-friendly countries that include Turkey, Singapore, Australia, Malaysia, Thailand, Russia, and Hong Kong

Crypto-Related Crimes Becoming International Issue 

Singapore’s Financial Regulator Warns Against Crypto Scammer

According to reports, the conference aims to equip lawyers and other legal experts with the skills necessary to identify and fight crypto-based crimes, such as terrorism financing and money laundering, among others.

Indonesia’s Deputy Attorney General Dr. Arminsyah remarked that it is crucial that governments come together to prevent bad actors from taking advantage of technologies like cryptocurrencies and blockchain.

“Cross-border cryptocurrency crime must be seen as a common enemy, therefore it cannot be tackled partially by each country but must be prevented, fought, and eliminated holistically and together,” he said.

Governments Track Down Crypto-Crimes 

On December 7th, 2017, Bank Indonesia, the country’s central bank, issued regulations to ban the use of cryptocurrencies including Bitcoin as legal tenders. 

However, in February 2019, the Indonesian government launched a new regulation that legalized cryptocurrency as tradable assets, allowing investors to trade digital currencies while protecting them from falling victim to crypto-fueled scams. 

Dr. Arminsyah hopes that the summit will spur more collaboration between participants, in the form of real-time “information delivery, data, advice, and the provision of the necessary facilities needed to fight crypto crimes.”

Meanwhile, Thailand announced in August 2019 plans to intensify efforts to put a stop to money laundering based on cryptocurrency across the region. 


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