Several governments across the globe have been adopting Bitcoin, however, quite a few localities have yet to agree to the inclusion of digital assets in their current financial system.
At the end of last week, the Bali government made it clear that it has a negative stance towards cryptocurrencies.
Wayan Koster, the governor of Bali, held a press conference. He stated that tourists who choose to pay for goods and services with crypto assets will face close scrutiny.
“Foreign tourists who behave inappropriately, perform activities not permitted in the visa permit, use cryptocurrencies as a means of payment, and violate other regulations will be severely dealt with. . Strict measures include evictions, administrative sanctions, criminal penalties, business closures and other tough sanctions.”
Due to the Bali government’s stance on cryptocurrencies, tourists will not be allowed to use Bitcoin for payments at hotels, restaurants, tourist attractions, shopping malls and other establishments in the area.
In addition, Bali officially only recognizes the Indonesian rupiah as legal tender.
According to information from a government-owned portal, individuals using currencies other than the Indonesian rupiah could face severe government-imposed consequences.
These penalties include the possibility of a year in prison and substantial fines of up to approximately $13,300.
“Those who conduct foreign exchange business activities without the permission of Bank Indonesia may be sentenced to imprisonment with a minimum of one year and a maximum of five years, with a minimum fine of Rp 50 million [3,300]. USD] and a maximum of Rp 22 billion [US$1.4 million] ].”
The Bali government’s decision not to allow cryptocurrency payments has received criticism from many individuals. Therefore, some people have expressed their displeasure by declaring that they will not visit Bali due to this policy.