The government of Bali, Indonesia, recently cracked down on crypto payments for goods and services, reminding tourists that the Indonesian rupiah is the only legal tender. Some tourists were not satisfied with the decision and said they would not visit again.
On May 28, the Indonesian government claimed that tourists using cryptocurrency for payments โwill be dealt with firmly.โ They can be subject to penalties such as deportation, criminal sanctions and administrative sanctions. Furthermore, companies caught accepting cryptocurrencies could also be punished and forced to close their operations.
The crypto community shared various responses, with some saying the ban โmakes senseโ and some threatening not to visit the tourist hotspot again.
On Reddit, a community member shared his belief that the payment method used "should depend on the companies and the customers". Redditor said that if both parties are willing to accept the risks of using crypto as payment, they should be allowed to proceed with their transactions.
On the other hand, another Redditor believe that the ban โmakes senseโ for Indonesia. According to the community member, the country uses money from tourists to "support its currency." This allows the currency to maintain its value. Despite this, the Redditor expressed that he did not agree with the ban.
Related: Indonesia Targets Launch of Its National Crypto Exchange by June
While some offered arguments and perspectives on the issue, others took a simpler approach: reconsider your plans to visit Bali. A member of the community wrote:
While many were against the ban, some came out in defense of Indonesia. According to a Redditor, they are just protecting their income. Taxes can only be applied when there are regulations. In this case, the community member believes that Indonesia doesn't have this yet. โThey see their source of income slip away and they can't do anything to stop it. So there is one thing to do: build fences,โ they said. wrote.
Tourism is an important sector that contributes to Bali's economy. Investigation shows that tourism accounts for nearly 28% of Bali's revenue. It helps the economy by creating opportunities and jobs for locals. This suggests that if tourists stop visiting the country, it could also cause a drop in income.
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