As the adoption of Bitcoin (BTC) and cryptocurrencies is increasing, some governments are positive about crypto, while others are banning it.
One of these countries was Indonesia. Cryptocurrency trading is legal in Indonesia, while the use of cryptocurrencies for payments is prohibited.
While Indonesia has taken a negative approach towards cryptocurrencies, Bali, one of the country's world-famous tourist islands, announced that it is following in the country's footsteps.
According to the news of local news agent Antara, Bali Governor Wayan Koster stated that the use of cryptocurrencies such as BTC is prohibited in Bali.
Noting that the use of cryptocurrencies as a means of payment is prohibited, the governor said that tourists and businesses that use crypto as a means of payment will be strictly dealt with.
“The use of cryptocurrencies as legal tender is prohibited in Bali.
Commercial entities that do not comply with this ban and provide crypto services or transaction services in Bali will be subject to a variety of sanctions, ranging from administrative fines, cancellation of business licenses to criminal sanctions.
Tourists using cryptocurrencies as a means of payment in Bali will be subject to sanctions in the form of administrative sanctions, up to deportation.
Firms that offer crypto services or accept crypto as a means of payment will also be subject to strict administrative sanctions and other heavy sanctions until their businesses are closed.
In his statement, Bali Governor Koster underlined that Indonesia's currency, the rupee, is the only currency that can be legally used for payments in the country, and underlined that the use of other currencies, such as crypto, requires a maximum prison sentence of one year and a fine of 200 million rupees ($ 13,000).
In his statement, the governor stated that cryptocurrencies are not completely prohibited in the country, only to be used in payments.
