Government's warnings won't stop Vietnam from embracing Bitcoin
Asian countries have had disparate approaches on crypto-currencies and regulation. While Thailand’s foreign-exchange rules bar its conversion into other currencies, China and Vietnam have chosen a much more defensive approach towards Bitcoin. In April, China’s central bank barred financial institutions from handling transactions in Bitcoin to curb risk, and forced several Chinese Bitcoin exchange platforms to close their bank accounts by April 15th. Chinese yuan deposits were suspended for couple days, but activities returned to normal couple weeks later, and BTC China, the major Chinese....
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Vietnam has had a particularly rocky relationship with bitcoin. Just a few months ago, the country was shattered by an alleged Ponzi scheme surrounding bitcoin activity. Promises were made that ultimately weren’t kept, and several people lost money that could have otherwise gone to much smarter and loftier purposes. There have been several warnings about bitcoin in Vietnam since it first arrived on the scene. Like Russia, the nation has sought to keep a safe distance, believing it likely stirs up trouble and related criminal activity, though remittance systems via bitcoin are present all....
State Bank of Vietnam. Source: Adam Eales. Vietnam is not looking like fertile ground for bitcoin growth, it seems. The State Bank of Vietnam, along with the Government, have said that they do not recognize bitcoin as a legitimate means of payments in Vietnamese territories. The news was reported last week by the Authority of Foreign Information Service (AFIS), who also note that the use of bitcoin in Vietnam is forbidden (bold emphasis ours): The State Bank of Vietnam has reported it to the Government and sent an official note warning about the risks in the Bitcoin using transactions and....
Cryptocurrency adoption has witnessed a significant surge globally, with the United Arab Emirates (UAE) and Vietnam emerging as frontrunners in embracing digital assets. Recent data from Triple-A has particularly shown that roughly 30.4% or 3 million people of the UAE’s population now own cryptocurrency, positioning the nation as a leader in the global fintech arena. […]
Members of the expanding blockchain sector of Vietnam have called on government and educational institutions to turn more attention to the deficit of talent. With the shortage of qualified personnel being a global challenge, they say the country needs to address the lack of training. Industry Players Highlight Growing Need for Blockchain Experts in Vietnam Vietnam is not the only nation in search of blockchain developers with the deficit seen as a common problem for countries like the United States, China and India, too. When it comes to the new technology, Vietnam is for the first time in....
From the VVN facebook page. TheLitecoin community has raised over 120 Litecoins for the Gò Vấp Orphanage in Vietnam. That's about $1500 USD! The goal of 100 LTC was met on February 25 when Charlie 'Coblee" Lee donated 50 LTC. Here's their charity project video. The Vietnam Volunteer Network will assist in transferring the funds to Gò Vấp. They work to raise funds and support the Gò Vấp Orphanage, helping to support orphans, many with Agent Orange related illnesses including hydrocephalus, malformations, and physical & mental disabilities, as well as children injured by landmines.....