The Governor of Bali held a press conference, one of the key issues was the fight against the use of cryptocurrencies as a means of payment. Fines for breaking the law can be as high as $13,000.
The Bali government has announced a tightening of supervision of the implementation of the cryptocurrency law among tourists. Officially, Bitcoin and other tokens are allowed to be traded in Indonesia, but you cannot pay for goods with them. However, until now, this rule has remained only on paper: tourists pay daily with cryptocurrencies without any consequences.
On May 28, the governor of the state of Bali held a press conference during which it was said that tourists using cryptocurrency as a means of payment will now be punished to the fullest extent of the law. The penalty for paying for purchases with Bitcoin can be expressed in prison for up to one year or a fine of up to $13,000. The island’s governor also noted that if necessary, tourists can be deported.
The reason for tightening control was the investigation of the local newspaper Kompas. In it, journalists talk about companies breaking the law by accepting cryptocurrencies as a means of payment. According to Kompas, tourists used this method to pay for both small purchases like coffee and entire hotels.
Author:
Grigory Shcheglov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
