Jump to content

Vietnam Bans Bitcoin


Flashermac

Recommended Posts

Hanoi - Vietnam has banned the virtual currency bitcoin, citing its ease of use for criminal purposes and its high risk for investors.

 

"Transaction by bitcoin is highly anonymous, so bitcoins can become a tool for crimes like money laundering, drug trafficking, tax evasion, illegal payment," the central bank said in a statement issued late Thursday.

 

The statement banned credit institutions from trading in bitcoins and warned citizens not to invest in the currency.

 

"The price of bitcoin fluctuates over a short time so investments in bitcoins are risky," Vietnam’s state bank said.

 

It did not outline punishments for violations of the ban. Online access to several popular bitcoin trading sites overseas appeared to be blocked.

 

The sudden closure of one of the largest bitcoin exchanges this week in Japan has raised concerns about the future of the digital currency.

 

Earlier this year several Vietnamese companies posted on their websites that they accepted bitcoin payments, according to local media reports.

 

DPA

 

 

http://www.nationmul...n-30228059.html

 

 

 

 

 

 

 

 

 


  •  

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...