Document Type

Journal Article

Publication Title

Cogent Social Sciences

Volume

10

Issue

1

Publisher

Taylor & Francis

School

School of Business and Law

Comments

Widhiasthini, N. W., Subawa, N. S., Emmerson, M. F., Yanti, N. K. W., Utami, M. S. M., Kusuma, P. S. A. J., . . . Sudharma, K. J. A. (2024). Public regulation urgency in cryptocurrency based on administrative reform for Bali sustainable tourism. Cogent Social Sciences, 10(1), article 2312657. https://doi.org/10.1080/23311886.2024.2312657

Abstract

This research aimed at contributing on the urgency of formulating public regulation about cryptocurrency based on administrative reform, providing critical thinking about the use of cryptocurrency on economic activity in supporting sustainable tourism. Instead of focusing on economic, it focuses on the public administration to formulate the regulation of cryptocurrency circulation in Indonesia. It was underlying on descriptive qualitative method with postpositivism approach. It was conducted in Bali as the world tourism destination, and relied on tourism. The distribution of cryptocurrency is banned in Indonesia including Bali, regulated on Law No. 7 year 2011 about currency. It found the hegemony from tourists toward tourism entrepreneurs due to the demand of tourist to use crypto yet lack of regulation as legal payment. Three strategies of administrative reform applied i.e. taxation, structural and programs to implement administrative reform for cryptocurrency regulation. The practical implication shows that the regulation of legal cryptocurrency generates positive impacts on sustainable tourism growth in Bali, particularly on the tourism concept for preserving environment, social, cultural and economic. Moreover, it theoretically implicated the Public Regulation Theory on formulating public regulation that legalize crypto distribution, identifying potential issues, agenda arrangement, regulation formulation, policy approval, implementation and evaluation.

DOI

10.1080/23311886.2024.2312657

Creative Commons License

Creative Commons Attribution 4.0 License
This work is licensed under a Creative Commons Attribution 4.0 License.

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