Crypto influencer & Creator at @binance đCommunity Manager At @ape_swap In love with : $BANANA $BNB $ETH $SFP $MATIC đ đȘ Real Name :Shlok Patel đ„
The government of Bali, Indonesia, has declared a crackdown on Tourist using Cryptocurrency đ„Č.
Baliâs government is cracking down on tourists paying for goods and services using cryptocurrency, with the islandâs governor sending a reminder that Indonesiaâs fiat currency is the only legal tender.
On May 28, the government-owned news agency Antara reported that Bali Governor Wayan Koster hosted a press conference the same day and said tourists who âuse crypto as a means of payment [...] will be dealt with firmly.â
âStrict actions range from deportation, administrative sanctions, criminal penalties, closure of business premises and other tough sanctions,â he added.
The meeting was attended by Baliâs chief police inspector and Trisno Nugroho, the head of the Bali Representative Office for Bank Indonesia â the countryâs central bank.
Nugroho reaffirmed that trading crypto is allowed but the use of crypto for payments is banned.
Koster noted that Indonesiaâs currency â the rupiah â is the only one that can be legally used for payments in the country. The use of other currencies carries a maximum potential sentence of one year in prison and a fine of 200 million rupiah ($13,000).
The Bali governorâs announcement comes days after a May 26 investigative report in Kompas, considered the countryâs newspaper of record.
Nigerian government formally approves blockchain use
The Nigeria Federal Executive Council has approved the National Policy on Blockchain drafted by the Federal Ministry of Communications & Digital Economy, paving the way for the formal use of blockchain technology in the country.
In a May 2 tweet, the special assistant to the President on digital and new media, Tolu Ogunlesi, said relevant agencies would be working to develop appropriate regulatory frameworks. He said the government established a steering committee led by the National Information and Technology Development Agency to oversee policy implementation.
However, the approved policy is not yet public. Ogunlesi promised that this would be provided soon.
Many Nigerians have welcomed the news of the approval even without seeing the policy document. Some have also questioned if the new policy legalizes crypto usage in the country.
In 2021, the Central Bank of Nigeria (CBN) prohibitedfinancial institutions from providing their services for crypto-related transactions.
Since then, the CBN has yet to clarify its stance towards the industry. However, that has not stopped cryptocurrency adoption â Chainalysis ranked Nigeria in the top 20 of its 2022 Global Crypto Adoption Index.
đTornado Cash suffers governance attack. The attacker grants himself 1,200,000 votes by maliciously proposing (adding an extra feature to the proposal that enables him to update the logic of the proposal to get fake votes).
đ The attacker extracted 473,000 TORN from the governance contract and was selling it on the chain. At present, TORN has fallen by more than 40% in 24 hours
49,528 blocks until the next BTC Halving Date. BTC Halving 2024 date is predicted to transpire on Saturday Apr 27, 2024 at 06:21:08 AM UTC.. When the next BTC halving date 2024 is reached, the BTC halving reduces the BTC block reward from 6.25 BTC to 3.125 BTC. Bitcoin halving 2024 prediction sets the next Bitcoin halving date to occur on Saturday Apr 27, 2024 at 06:21:08 AM UTC