Vietnam Plans to Regulate Digital Currencies After Commissioning a Crypto Res...
Vietnam is treading waters into the cryptocurrency industry, as the government recently commissioned a research group for the purpose. The Vietnamese Ministry of Finance is conducting an in-depth study of cryptocurrencies for regulation purposes. One Million Vietnamese Are Reportedly Crypto Users According to ASEAN Briefing, the ministry seeks to gather enough data to clearly see how a regulatory process can be made in the country. The research comes in the wake of virtual currencies booming globally in terms of popularity, says the announcement. The government believes there is an....
Related News
According to the regional Vietnam publication VNEconomy, the country’s authorities and financial ministries will be regulating virtual currencies in the near future. Vietnam Prepares to Regulate Virtual Currencies. The report details the use of cryptocurrencies such as bitcoin is becoming widely used worldwide. However, within this emerging economy....
The Vietnamese government is working toward building and introducing a comprehensive legal framework surrounding virtual currencies like bitcoin, a report has revealed. As a country that has seen its fair share of mainstream pyramid schemes misusing bitcoin – leading to regulators and authorities warn against the use of the digital currency – Vietnam is working toward enforcing legal frameworks for virtual currencies and properties, choosing to regulate the innovation rather than ban it. According to a report in regional publication VnEconomy, the Vietnamese government has begun a project....
Vietnam is set to join the growing list of nations that have legitimized Bitcoin. In the latest move, the government of the South East Asian country hinted at sanctioning virtual currencies, including Bitcoin. Absence of legal framework an obstacle for Bitcoin’s adoption. In a proposal, the Vietnamese authorities revealed that the lack of a legal framework regulating virtual currencies is robbing the country of investments. More so, just like the unfounded fear of many other governments that Bitcoin and other virtual currencies are a conduit for money laundering, smuggling, terrorism and....
The government of Vietnam has signalled it is time to consolidate cryptocurrency regulations as its current provisions “fall short.” Current E-Money Provisions ‘Fall Short’ in Vietnam. In a report this month, the government as associated ministries commented proper management and research were required to manage the identity of Bitcoin and other currencies within Vietnam. “Vietnam law has provisions on electronic money but these full short; there is still no uniform policy, and this has led to confusion between electronic money and virtual currency. Research is thus needed to clarify....
Bitcoin ATM operator EasyBit said today it plans to install three new bitcoin ATMs in Vietnam. The company already operates one machine in Ho Chi Minh City, the country’s largest city. At the same time, it announced a partnership with local exchange Bitcoin Vietnam to supply all four machines. EasyBit already operates over 60 bitcoin ATMs in over 10....