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The Indonesian Government Is Cracking Down Further On Bitcoin Use In Bali


Retailers in Bali are being forced to stop accepting bitcoin at their shops and restaurants. The actions of governments and regulatory authorities in Asia have been a hot topic in the cryptocurrency space over the last few weeks. The recent crash is widely seen as being driven by reports that the South Korean government indicating […]

Retailers in Bali are being forced to stop accepting bitcoin at their shops and restaurants.
The actions of governments and regulatory authorities in Asia have been a hot topic in the cryptocurrency space over the last few weeks. The recent crash is widely seen as being driven by reports that the South Korean government indicating it is set to crackdown on cryptocurrency usage. A similar concern is hanging over the already heavily regulated Chinese market right now, rooted in potential government actions to limit access to international exchanges for users within its borders.
Bali A Hive Of Bitcoin Activity?
But it doesn’t stop there.
The latest news out of Asia is that Indonesian authorities are looking to investigate bitcoin-associated activity in Bali, one of Southeast Asia’s most popular tourist destinations and – if the reports are to be believed and the concern’s of the Indonesian government validated – a hive of bitcoin-related activity.
Here’s what Iman Karana, head of Bank Indonesia’s representative office in Bali, had to say on the development:
We found out from some postings on social media that Bali appeared to have become a haven for bitcoin …

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