Planning To Visit Bali? Don't Use Bitcoin, Ethereum Or You Could Face Imprisonment

If you’re planning on visiting Bali, be aware that the provincial government is getting tough on foreign tourists using cryptocurrencies like Bitcoin BTC/USD, and Ethereum ETH/USD  to pay for goods and services. 

What Happened: According to a report from Channel News Asia, Bali Governor Wayan Koster stated that visitors who use crypto for payment will face strict penalties. These sanctions include deportation, criminal charges, business closures, administrative penalties, and other severe consequences.

In a Sunday tourism development press conference that was attended by police officers and other officials, Koster reiterated that the use of payment methods other than the Indonesian currency, the rupiah, is strictly banned. 

Under Indonesian law, those who use foreign currencies face a prison term of up to one year and fines of up to 200 million rupiah ($13,300).

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Why It Matters: Indonesia’s governor also warned that those who conduct foreign exchange business without permission from Bank Indonesia would face even stricter penalties. 

Price Action: At the time of writing, BTC was trading at $27,792.23, down 1.13% in the last 24 hours, according to Benzinga Pro.

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