{"id":18933,"date":"2023-05-29T06:25:34","date_gmt":"2023-05-29T06:25:34","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/dealt-with-firmly-bali-governor-issues-warning-to-tourists-using-crypto\/"},"modified":"2023-05-29T06:25:35","modified_gmt":"2023-05-29T06:25:35","slug":"dealt-with-firmly-bali-governor-issues-warning-to-tourists-using-crypto","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/dealt-with-firmly-bali-governor-issues-warning-to-tourists-using-crypto\/","title":{"rendered":"\u2018Dealt with firmly\u2019 \u2014 Bali governor issues warning to tourists using crypto"},"content":{"rendered":"

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Bali\u2019s government is cracking down on tourists paying for goods and services using cryptocurrency, with the island\u2019s governor sending a reminder that Indonesia\u2019s fiat currency is the only legal tender.<\/p>\n

On May 28, the government-owned news agency Antara reported Bali\u2019s governor Wayan Koster hosted a press conference the same day and said tourists who \u201cuse crypto as a means of payment […] Will be dealt with firmly.\u201d<\/p>\n

“Strict actions range from deportation, administrative sanctions, criminal penalties, closure of business premises and other tough sanctions,” he added.<\/p>\n

The meeting was attended by Bali\u2019s chief police inspector and Trisno Nugroho, the head of the Bali Representative Office for Bank Indonesia \u2014 the country\u2019s central bank.<\/p>\n

Nugroho reaffirmed that trading crypto is allowed but the use of crypto for payments is banned.<\/p>\n

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I dont understand why Koster keep saying stuff to scare away tourists from not allowing tourist to rent bikes, to only allow certain number of tourist, but so far zero implementation<\/p>\n

I feel he tries his best to make sensational policues just because his term end this year<\/p>\n

\u2014 Dea Rezkitha ( Bitcoin Conference 23 Bali \ufe0f) (@dearezkitha) May 29, 2023<\/a><\/p><\/blockquote>\n

Koster noted that Indonesia\u2019s currency \u2014 the rupiah \u2014 is the only one that can be legally used for payments in the country. The use of other currencies carries a maximum potential sentence of one year in prison and an over $13,000 fine or 200 million rupiah.<\/p>\n

The Bali governor’s announcement comes days after a May 26 investigative report in Kompas, considered the country\u2019s newspaper of record.<\/p>\n

Related: <\/em><\/strong>Indonesian government looks to NFTs to preserve cultural heritage<\/em><\/strong><\/p>\n

Kompas reportedly found multiple Bali-based businesses that accepted cryptocurrency payments including a meditation retreat, a motorbike rental business and a crypto-themed cafe.<\/p>\n

According to data from Coinmap, a community-driven project that aims to map crypto-accepting businesses, there are 36 businesses that accept crypto, mostly concentrated in Ubud \u2014 a tourist hotspot town.<\/p>\n

Despite the hardline stance from Bali\u2019s governor and Indonesia, the country is on the path to rolling out a national crypto exchange by next month.<\/p>\n

Indonesia\u2019s Ministry of Trade would reportedly act as a custodian and clearing house for the local cryptocurrency markets. The platform was originally meant operational by the end of 2022, but suffered delays.<\/p>\n

Magazine: Cryptocurrency trading addiction \u2014 What to look out for and how it is treated<\/u><\/em><\/strong><\/p>\n