Vietnam puts total ban on Bitcoin

The State Bank of Vietman has issued “Information related to the use of virtual currency” that bans use of the cryptocurrency for payments.

It won't say why, and doesn't explicitly ban mining or blockchain.

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.”

Fines of around US$9,000 apply to those who accept or offer payments in virtual currencies.


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