Planning To Visit Bali? Don't Use Bitcoin, Ethereum Or You Could Face Imprisonment
Portfolio Pulse from Mehab Qureshi
Bali's provincial government is cracking down on foreign tourists using cryptocurrencies like Bitcoin and Ethereum for payments, with penalties including deportation, criminal charges, and business closures. The use of payment methods other than the Indonesian rupiah is strictly banned.
May 30, 2023 | 12:06 pm
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NEGATIVE IMPACT
Bali's crackdown on cryptocurrency usage may negatively impact Bitcoin's adoption and price in the short term.
The crackdown on cryptocurrency usage in Bali may lead to a decrease in adoption and demand for Bitcoin, which could negatively impact its price in the short term. However, the impact may be limited as Bali is just one region.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50
NEGATIVE IMPACT
Bali's crackdown on cryptocurrency usage may negatively impact Ethereum's adoption and price in the short term.
The crackdown on cryptocurrency usage in Bali may lead to a decrease in adoption and demand for Ethereum, which could negatively impact its price in the short term. However, the impact may be limited as Bali is just one region.
CONFIDENCE 75
IMPORTANCE 40
RELEVANCE 50