Tourists will be deported from Bali for paying for goods and services in cryptocurrency

Tourists will be deported from Bali for paying for goods and services in cryptocurrency

178
Author: Robert Strickland (crypto-journalist)
Subscribe

Tourists will be deported from Bali for paying for goods and services in cryptocurrency

Digital assets are not banned in Indonesia, but paying with them for goods and services is prohibited

Bali authorities will crack down on foreign tourists paying with cryptocurrency in hotels, restaurants, tourist centers, stores, and other places, the Indonesian publication Antara reported.

"Foreign tourists who behave inappropriately, violate visa restrictions and other regulations, and use cryptocurrency as a means of payment will be severely punished," Bali Governor Wayan Koster said at a press conference on tourism development in Bali.

Koster reminded us that it is illegal in Indonesia to use currencies other than the local rupiah as a means of payment. Violations of the law are punishable by 1 to 5 years in prison, as well as fines of 50 million rupiahs ($3,300) to 22 billion rupiahs ($1.4 million).

Tourists can be deported, and violators also face administrative and criminal penalties, closure of business premises, bans on payment transactions, and other harsh sanctions, Koster said.

Cryptocurrency trading is allowed in Indonesia. In January, the country's government announced plans to launch a national cryptocurrency exchange by the end of 2023.

Other news

Bitcoin Demand from ETFs in June Surpassed Miners' Capacity
What Will Happen to Bitcoin in the Coming Week
Bitcoin funds raised $887 million in one day
Bitcoin remains stable amid capital inflows into ETFs
The Fed's influence will remain key for Bitcoin in June, predicts 10x Research
Bitcoin Goals
Trustpilot