Bali (Indonesia) Governor Wayne Koster has warned of strict action against tourists using crypto, or rather threatening tourists, which is not good for business.
Status of crypto in indonesia
Crypto is not banned in Indonesia. For some time, the cryptocurrency was under the control of the Ministry of Trade. Commodity agency BAPPEBTI was regulating crypto, like a commodity, but in January this year the crypto authority was transferred to OJK making crypto a security. Currently, whether it is a commodity or a security, crypto is legal in Indonesia, so how will he (Governor Koster of Bali) be able to stop Crypto?
Wayan Coaster not good for Bali
Bali's main source of income is tourism, and while crypto is not banned in Indonesia, it is unwise to threaten the island's source of income with its use. It is believed that Wayne Koster does not listen to anyone and only does what he wants. Earlier, his misbehaviour cost Indonesia the hosting of the Under-19 Football World Cup. Now Koster is putting Bali's tourism industry at risk.
Bali Tourism will ado bout nothing
Crypto users do not need to fear the governor of Bali, major countries have unsuccessfully banned crypto, even the entire Eurozone has not been able to ban, let alone the ban in Bali. The dictator governor has banned such technology under his dictatorship, which he hardly has any knowledge of. (Trading is allowed but payment is not type).
