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Journal article
Public regulation urgency in cryptocurrency based on administrative reform for Bali sustainable tourism
Cogent social sciences, Vol.10(1), 2312657
2024
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.
Details
- Title
- Public regulation urgency in cryptocurrency based on administrative reform for Bali sustainable tourism
- Authors/Creators
- Ni Wayan Widhiasthini - University of National EducationNyoman Sri Subawa - University of National EducationMelissa Fong Emmerson - School of Business and Law, Edith Cowan University, Joondalup, AustraliaNi Kadek Winda Yanti - University of National EducationMade Srinitha Millinia Utami - Murdoch UniversityPutu Sri Arta Jaya Kusuma - University of National EducationPutu Purnama Dewi - University of National EducationKadek Januarsa Adi Sudharma - University of National Education
- Publication Details
- Cogent social sciences, Vol.10(1), 2312657
- Publisher
- Informa UK Limited, trading as Taylor & Francis Group.
- Identifiers
- 991005638867607891
- Copyright
- © 2024 The Author(s).
- Murdoch Affiliation
- School of Information Technology
- Language
- English
- Resource Type
- Journal article
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