The party is over in Bali – Pay for your surf lessons at Kuta Beach with a few satoshis ? Settle your mocktails on Seminyak beach while watching the sunset with dogecoins What do you have left from last year? Or maybe treat yourself to a yoga class in Ubud by paying with stablecoins specially set aside? All that is ended. The governor of bali has just sounded the end of recess and reminds everyone, tourists and shopkeepers, that on the island, the single currency who has legal tender is the rindonesian rupiah. Bali is not El Salvador! I’Indonesia is she turning her back on crypto? Not so sure… Head to the Island of the Gods to find out more.
The governor of Bali reminds that it is forbidden to use cryptocurrency as a means of payment…
Chance or coincidence? Only a few days after an article about cryptocurrency payments in the country appeared, the Governor of Bali organized a press conference to put things in their place: the only authorized currency in the country is the Indonesian rupiah. The local newspaper Compas had actually carried out an in-depth investigation where we learned that tradespeople from the island accepted crypto payments. Some for practical reasons or by personal conviction, but others to help Russian tourists excluded from the usual payment networks since the international sanctions against their country.
Wayan Kosterthe governor of Bali, spoke to the press two days later to clarify the situation:
“Foreign tourists who behave inappropriately, do activities that are not permitted on their visa, use crypto as payment, or violate other provisions will be dealt with firmly. »
At this press conference, the Chief Inspector General of Bali Police, Putu Jayan Danu Putra was present, as was the Bank Indonesia representative for Bali, Trisno Nugroho, just to make things official. The island authorities took the opportunity to recall the sanctions envisaged in the event of non-compliance with the law:
“Referring to the Currency Act No. 7 of 2011, if anyone uses any form of currency other than the Rupee, he may be punished with imprisonment for up to one year and a fine of up to 200 million Rupees (13,300 US dollars). »
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…yet Indonesia remains very interested in Bitcoin and cryptocurrencies as a financial asset
And these sanctions concern both tourists and local traders:
“Violations will be subject to administrative sanctions in the form of written reprimands, obligations to pay fines and bans on payment transactions. »
So much for the official warnings regarding the use of the cryptocurrency as means of payment. On the other hand, it is quite possible for an Indonesian national to buy or own one. Indeed, the same Trisno Nugroho said a few weeks ago that crypto as a financial asset was the Welcome in the country.
Besides, theIndonesia would be about to dive into the cryptocurrency with enthusiasm. The Governor of West Java, Ridwan Kamilrecently stated that the mining of bitcoins with renewable energies would be very interesting for the country. Finally, there is talk of a national exchange platform to participate in the democratization of crypto. “ We hope Indonesia will be a bitcoin heaven in the future »here is the conclusion of his intervention last week.
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