Bali Government Takes Stand Against Crypto Transactions by Foreign Visitors

The provincial government of Bali has announced a strict crackdown on foreign tourists using cryptocurrencies as a means of payment in various establishments. Bali Governor Wayan Koster, speaking at a tourism development press conference, emphasized that inappropriate behavior, visa violations, and the use of crypto for transactions would be dealt with firmly. 

The meeting was attended by key figures, including Bali’s Police Chief and other relevant parties. Penalties for non-compliance range from deportation and administrative sanctions to criminal penalties, business closure, and other stringent measures. Governor Koster reiterated that using currencies other than the Indonesian rupiah for payment is strictly prohibited by law. 

Violators can face severe consequences, including imprisonment of up to one year and a maximum fine of 200 million rupiah (US$13,300). Additionally, engaging in foreign exchange business activities without proper authorization from Bank Indonesia can result in imprisonment of one to five years, along with fines ranging from 50 million to 22 billion rupiah.

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While cryptocurrencies are permitted as assets in Indonesia, they are explicitly banned as a payment instrument, as stated by Trisno Nugroho, the head of Bank Indonesia’s Bali Representative Office. This move aims to maintain the stability of the country’s financial system and safeguard its national currency. 

As Bali is a popular tourist destination for travelers worldwide, Bali government crackdown seeks to ensure adherence to Indonesian regulations and discourage illegal activities in the tourism sector. To enforce compliance, administrative sanctions such as written reprimands, fines, and restrictions on payment transactions will be imposed.

Source : CNA

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