Bali Cracks Down on Crypto Payments by Tourists
In an effort to enforce regulations, the Bali Provincial Government is set to clamp down on foreign tourists utilizing cryptocurrencies for transactions in establishments including hotels, restaurants, tourist attractions, and shopping centers.
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“Foreign tourists who engage in prohibited activities, misuse their visa permits, make crypto payments, or violate other regulations will face strict actions,” Governor Koster stated firmly.
Penalties for such violations include deportation, administrative sanctions, criminal charges, business closure, and other stringent measures.
Governor Koster highlighted that unauthorized foreign exchange transactions can result in imprisonment ranging from one to five years, along with fines ranging from $3,300 to $1.4 million.
To ensure compliance, the use of rupiah within Indonesian territories is mandated by Bank Indonesia Regulation, with violations subject to administrative sanctions, including written reprimands, fines, and restrictions on payment transactions. Bank Indonesia’s Bali Representative Office Head, Nugroho, clarified that while cryptocurrencies are recognized as assets, their usage as payment instruments is prohibited in Bali.
This strict stance aims to maintain the integrity of local regulations and protect the financial sector from potential risks associated with unauthorized currency transactions. Foreign tourists visiting Bali are urged to adhere to these regulations and use the designated payment methods during their stay.
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