Home » Paying in crypto in Bali? Get ready for prison

Paying in crypto in Bali? Get ready for prison

31st May 23 3:41 pm

The provincial government of Bali is strengthening its measures against using crypto as a means of payment for accommodations and in restaurants, travel destinations, malls, and other places this summer, Channel News Asia reported.

Wayan Koster, Governor of Bali, pledged to “firmly” deal with foreign tourists who behaved inappropriately, which includes using crypto as a means of payment. He made this promise at a tourism press conference, which was also attended by the Chief Inspector of Bali Police, General Putu Jayan Danu Putra.

“Strict actions” planned

Koster said, “Strict actions will include deportation, administrative sanctions, criminal penalties, closure of business premises and other tough sanctions.”

He added that no currency other than the Indonesian rupiah (IDR) was allowed in Indonesia to make payment. Under local law, using another currency is punishable by imprisonment of up to one year and a maximum fine of 200 million IDR, equivalent to around $13,000.

In addition, people carrying out illegal foreign exchange activity face up to five years in prison and a fine ranging from 50 million to 22 billion IDR. Violations are also punishable by written reprimands and bans from payment transactions.

Cash is king in Bali

Under Indonesian law, you’re allowed to hold crypto as an asset, but not to use it to make payment. In the famous tourist destination of Bali, cash is still the most widely used method of payment. Many businesses, especially small local shops, restaurants, and street vendors, prefer cash transactions.

Visa and Mastercard also accepted

Bali has seen a significant increase in the acceptance of electronic payment methods in recent years. Major tourist areas, hotels, larger restaurants, and retail chains often accept Visa and Mastercard. Some establishments may also accept other international cards, but it’s always a good idea to inquire beforehand.

Digital payments are gathering momentum

Additionally, digital payment services such as GoPay, OVO, and DANA have gained popularity in Bali. These services allow users to make payments through mobile apps linked to their bank accounts or e-wallets.

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