State Bank of Vietnam Moves to Ban Digital Currency Use

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vietnam central bankWithout any prior warning, it appears the State Bank of Vietnam has recently submitted a legislative proposal to the country’s government meant to ban a wide range of digital currency-related activities. Expensive Fines to be given Recent reports indicate that starting January 1, the supply, issuance, and use of Bitcoin and other digital currencies as a method of payment will be subject to fines ranging from 150 million to 200 million dong, which is approximately equivalent to US$6,600-$8,800. Additionally, it seems the bank is advocating for legislative amendments to the penal code which would make certain activities relating to digital currency a crime. It is important

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