Tourists visiting Bali have been warned against using cryptocurrencies as a form of payment.
Bali Issues Warning Against Tourists Using Crypto
Tourists visiting Bali have been warned against using cryptocurrencies as a form of payment. Bali’s governor, Wayan Koster, stated that tourists using crypto to pay for accommodation, restaurants, activities, or shopping will face severe consequences, including deportation, sanctions, criminal penalties, and potential business closures. The use of foreign currencies for payment is also prohibited in Indonesia, with only the Indonesian rupiah considered as valid tender. Despite the warning, there have been reports of increased crypto usage in Seminyak, a major tourist hotspot in Bali.
The stricter stance on foreign tourists and crypto payments comes as Bali attempts to manage the influx of visitors in the post-COVID era. Indonesia closed its borders in March 2020 and only began reopening slowly in February 2022, after nearly two years of restrictions. The pandemic has heavily impacted tourism, with foreign tourism falling by over 75% from pre-pandemic levels. While businesses in some cases are exploring the use of digital assets like non-fungible tokens to attract investments and foreign interest, crypto as a payment method remains strictly prohibited in the country.