The governor of Bali, Wayan Koster, has warned tourists against using cryptocurrency as a form of payment in the popular tourist destination.
Koster said that those who use cryptocurrency will face “stiff consequences,” including deportation, fines, and criminal penalties.
Koster’s warning comes as the use of cryptocurrency in Bali has been on the rise. In recent months, several businesses in Seminyak, a major tourist hotspot, have begun accepting cryptocurrency as payment.
However, cryptocurrency is not legal tender in Indonesia. The only legal tender in Indonesia is the Indonesian rupiah. The use of foreign currencies for payment is also prohibited.
Koster’s warning is likely to have a chilling effect on the use of cryptocurrency in Bali. Businesses that accept cryptocurrency may be subject to fines or even closure. Tourists who use cryptocurrency may also face deportation or other penalties.
Koster’s warning is also a sign of the growing concern about the use of cryptocurrency in Indonesia. The Indonesian government has been reluctant to regulate cryptocurrency, but it is clear that the government is becoming increasingly concerned about the risks associated with cryptocurrency.