Vietnam Regulator Warns Against Using Bitcoin

Vietnam Regulator Warns Against Using Bitcoin

In a statement, a Department of Electronic Commerce and Information Technology in Vietnam has warned Vietnamese adults opposite enchanting in investments or a shopping and offered of Bitcoin and digital currencies.

The Vietnam e-Commerce and Information Technology Agency – that falls underneath a reach of a Ministry of Industry and Trade (MOIT) – serves as a regulator to support state government and a coercion of functions concerning e-commerce and IT to offer a Ministry while in suitability with a laws and regulations.

In a new press release, a group warned opposite a storing or enchanting in trade of practical money, including Bitcoin. The warning includes references to prior bitcoin bans in countries such as Russia and Thailand. It also creates references to financial waste faced by investors in Japan and Hong Kong, presumably indicating to a closure of a Mt. Gox bitcoin exchange.

The recover also points to a position taken by a State Bank of Vietnam (SBV) in 2014, wherein it categorically announced that Bitcoin and other virtual

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