In Bali, it’s time for a crackdown on tourists tempted to resort to crypto-payments. Governor Wayan Koster did not beat around the bush to remind at a press conference that according to Indonesian law, the rupiah was the only legal tender in the huge island territory and as such, using bitcoin and other digital assets to pay for purchases was liable to repressive measures.
Foreign tourists who behave inappropriately, do activities that are not permitted in their visa permit, use crypto as payment, and violate other provisions will be dealt with firmly.
Wayan Koster, Governor of Bali, quoted in the Antara news agency
Zero tolerance in Bali for crypto-payments
A zero tolerance that is not new. The Governor of the Central Bank of Indonesia had already sounded the hallali in 2021 to enforce this prohibition measure.
And he did it again just recently by stating that the Bank was going to investigate the presence of foreign nationals using crypto assets as a means of payment. A position also adopted by Thailand, another flagship destination for mass tourism. Fact, the Kingdom of Siam does not authorize the trade cryptos for all than if it is traded exclusively for investment purposes.
Remember that if the Indonesian law is strict in terms of payment, offenders are exposed to a series of sanctions that can range from expulsion to imprisonment through substantial fines that can climb up to 13,000 dollars, the trade of cryptos is legal for it as for its continental neighbor. Moreover, the Indonesians were not mistaken, seizing the subject if we are to believe a Gemini report dating from 2022, with a record adoption rate and where women now make up half of crypto investors. The archipelago is also preparing to launch a national cryptographic exchange by next month.
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