{"id":18939,"date":"2023-05-29T11:41:35","date_gmt":"2023-05-29T11:41:35","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/tourists-are-unhappy-with-crypto-payments-ban-in-bali\/"},"modified":"2023-05-29T11:41:37","modified_gmt":"2023-05-29T11:41:37","slug":"tourists-are-unhappy-with-crypto-payments-ban-in-bali","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/tourists-are-unhappy-with-crypto-payments-ban-in-bali\/","title":{"rendered":"Tourists are unhappy with crypto payments ban in Bali"},"content":{"rendered":"<div data-v-2f4c2c70=\"\">\n<p>The government of Bali, Indonesia, recently cracked down on crypto payments for goods and services, reminding tourists that the Indonesian rupiah is the only legal tender. Some tourists were dissatisfied with the decision, saying that they would not visit again.<\/p>\n<p>On May 28, the Indonesian government affirmed that tourists using crypto for payments \u201cwill be dealt with firmly.\u201d They could be subject to punishments such as deportation, criminal penalties and administrative sanctions. In addition, businesses caught accepting crypto could also be punished and forced to close operations. <\/p>\n<p>The crypto community shared various responses, with some saying that the ban \u201cmakes sense\u201d and some threatening not to visit the tourist hotspot again. <\/p>\n<p>On Reddit, a community member shared their belief that the form of payment used \u201cshould be up to businesses and customers.\u201c The Redditor said if both parties are willing to accept the risks of using crypto as payment, they should be permitted to proceed with their transactions. <\/p>\n<p>On the other hand, another Redditor believes that the ban \u201cmakes sense\u201d for Indonesia. According to the community member, the country uses tourist money to \u201cprop up their currency.\u201d This allows the currency to hold its value. Despite this, the Redditor expressed that they disagreed with the ban. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Indonesia targets launch of its national crypto exchange by June<\/em><\/strong><\/p>\n<p>While some offered arguments and perspectives on the issue, others chose a simpler approach \u2014 reconsidering their plans to visit Bali. A community member wrote: <\/p>\n<figure><figcaption style=\"text-align: center;\"><em>Community member reconsiders vacation plans. Source: Reddit<\/em><\/figcaption><\/figure>\n<p>While many were against the ban, some came to Indonesia\u2019s defense. According to one Redditor, they are just protecting their income. Taxes can only be applied when there are regulations. In this case, the community member believes that Indonesia does not have this yet. \u201cThey see their cash cow running away and can do nothing to stop it. So there\u2019s one thing to do: build fences,\u201d they wrote.\u00a0<\/p>\n<p>Tourism is a major sector contributing to Bali\u2019s economy. Research shows that tourism makes up almost 28% of Bali\u2019s income. It helps the economy by creating opportunities and jobs for the locals. This suggests that if tourists stop visiting the country, it could also lead to a drop in income.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>FTX 2.0 coming up, Multichain FUD and Worldcoin raises $115M: Hodler\u2019s Digest, May 21\u201327<\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The government of Bali, Indonesia, recently cracked down on crypto payments for goods and services, reminding tourists that the Indonesian rupiah is the only legal tender. Some tourists were dissatisfied with the decision, saying that they would not visit again. On May 28, the Indonesian government affirmed that tourists using crypto for payments \u201cwill be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-18939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tourists are unhappy with crypto payments ban in Bali | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/tourists-are-unhappy-with-crypto-payments-ban-in-bali\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tourists are unhappy with crypto payments ban in Bali | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"The government of Bali, Indonesia, recently cracked down on crypto payments for goods and services, reminding tourists that the Indonesian rupiah is the only legal tender. Some tourists were dissatisfied with the decision, saying that they would not visit again. 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