Tourists are unhappy with the crypto payments ban in Bali

Tourists are unhappy with the crypto payments ban in Bali

The community expressed a wide range of comments, with some saying the prohibition is appropriate and others reconsidering their vacation plans.

Bali’s authorities recently tightened down on cryptocurrency payments for shops and services, reminding visitors that the Indonesian rupiah is the sole legal cash. Some tourists were disappointed with the choice and stated that they would not return.

On May 28, the Indonesian government stated that tourists who use cryptocurrency to make payments “will be dealt with firmly.” They may face penalties like as deportation, criminal charges, and administrative sanctions. Furthermore, businesses detected taking cryptocurrency may face penalties and closure.
The crypto community responded in a variety of ways, with some saying the ban “makes sense” and others threatening not to visit the tourist hub again.
A Reddit user expressed their belief that the method of payment utilised “should be up to businesses and customers.” According to the Redditor, if both parties are ready to face the dangers of utilising cryptocurrency as payment, their transactions should be allowed to proceed.

Read Also: FTX and Visa partner to permit crypto payments in 40 countries

Another Redditor, on the other hand, argues that the restriction “makes sense” for Indonesia. According to a member of the community, the government uses tourist money to “prop up their currency.” This enables the money to retain its value. Despite this, the Redditor expressed their dissatisfaction with the ban.

While some presented arguments and viewpoints on the topic, others took a more straightforward route, cancelling their plans to visit Bali. A member of the community wrote:

While many were opposed to the prohibition, several defended Indonesia. They are only preserving their money, according to one Redditor. Taxes can only be imposed when there are regulations in place. In this scenario, the member of the community considers that Indonesia does not yet have this. “They see their cash cow fleeing and have no way of stopping it.” “There is only one thing to do now: build fences,” they wrote.

Tourism is a significant contributor to Bali’s economy. According to research, tourism accounts for over 28% of Bali’s revenue. It benefits the economy by providing opportunities and work for locals. This implies that if tourists cease visiting the country, income may suffer as a result.

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