Interest and Institutional Analysis in Bitcoin Rejection by Bank of Indonesia

Abstract

This research aims to analyze bitcoin rejection by Bank of Indonesia. This is a deductive-qualitative research by data collecting done by library research through literature review from scientific articles. The research focuses on two approaches to political economy policy taken by a country, namely the approach of interest and institutional. The research result showed that there are two reason for the rejection of bitcoin by Bank of Indonesia, first protecting the interests of traders and secondly the existence of the national interest. Therefore, the Government of Indonesia’s response to the existence of bitcoin actually educated its citizens to deny it.