Search Results for: Wayan Koster

Bali Governor Wayan Koster warns foreign tourists against using crypto for payments, stating violations can lead to criminal penalties, deportation, or sanctions. Indonesian law requires transactions to utilize local currency, the rupiah, to protect it from alternative currency challenges.

Bali, Indonesia tightens payment rules to discourage foreign tourists from using cryptocurrencies, ensuring compliance with local regulations and protecting the stability of the nation’s financial system. Cryptocurrency usage is legal, but not as a payment instrument, potentially leading to fines or imprisonment.

Crypto enthusiasts visiting Bali are warned against using digital assets for payment as it’s illegal in Indonesia. Non-compliance risks deportation, sanctions, or criminal penalties. Despite recognizing crypto as a commodity in 2018, its use as a form of payment remains strictly prohibited.