Bitrabo Editorial
The Bali government is taking a tough stance on tourists using bitcoin for transactions, reiterating that only the Indonesian rupiah is legal tender in the country. Crypto enthusiasts visiting Bali, Indonesia are being discouraged from using cryptocurrencies to pay for goods and services, with the government emphasizing that only the nation’s fiat currency holds legal tender status. Governor Wayan Koster conveyed a stern message, asserting that individuals who insist on utilizing digital currency as a form of payment would face strict consequences.
Violators of this regulation may face severe penalties, including imprisonment for up to one year and a hefty fine of up to 200 million rupiah (equivalent to approximately $13,300).
The recent decision made by the governor of Bali is a direct response to an investigative report revealing the existence of several businesses in Bali that are accepting cryptocurrency payments, despite the fact that the possession and trading of cryptocurrencies are permitted in Indonesia, but are strictly prohibited as a means of payment.
Coinmap, a community-driven project that aims to map out businesses accepting cryptocurrencies, provided data supporting the report’s claims. According to their information, there are currently 36 establishments in Bali that accept cryptocurrency as a form of payment, predominantly located in Ubud, a popular tourist destination.