Vietnam’s Central Bank Announces Ban On Bitcoin Payments

18/05/2016  · “The price of bitcoin fluctuates over a short time so investments in bitcoin are risky,” Vietnam’s state bank said. It did not outline punishments for violations of the ban.

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29/10/2017  · The State Bank of Vietnam has developed a legal framework for digital currencies. The bank has submitted its proposals to its government, seeking to ban activities relating to bitcoin including issuance, distribution, and use. Bitcoin users may be subject to criminal prosecution and fined up to 200 million dong. Also read: Japan’s SBI Group.

30/10/2017  · Central Bank Of Vietnam Makes Bitcoin Payments Illegal. by Aleppo_A. With Vietnam having taken steps to essentially make bitcoin use illegal in the country, Vietnam has now following suit as the central bank deems the cryptocurrency illegal. In a similar stance as Vietnam, the bank emphasized transactions using Bitcoin are the main activity to be affected. Use of illegal means of payment.

30/10/2017  · The Bank lists conventional payment mechanisms like cheques, payment orders and credit cards as permitted, but then adds (after translation) that “Bitcoin virtual currency and other similar is not lawful means of payment in Vietnam; The issuance, supply, use of bitcoin and other similar virtual currency as a means of payment is prohibited in Vietnam.”