Topic: Bitcoin in Vietnam - page 3. (Read 571 times)
it is very bad that some countries set themselves barriers and restrictions in the development of crypto currency! Although it is very strange that they forbid one crypto coin, but about others do not say anything! I very much hope that soon the world financial system will change and there will be legalization of crypto coins around the world!
This is indeed not a good news. Where most of the countries in the world are accepting bitcoin, here in Vietnam they are saying that bitcoin is illegal. It’s really shocking and disappointing. There are making a huge mistake to not accepting this useful technology.
Many people have this misconception that in Vietnam BTC has been declared illegal. They just prohibit it as payment in their local stores but it is still valid for the purposes of trades, purchases and exchanges.
Vietnam is not against bitcoin because they always support bitcoin and this crypto market also. That’s why bitcoin is so much popular in Vietnam.
So far I know bitcoin is not declared illegal in Vietnam what actually happened is they have make a rule that as payment method bitcoin is not allowed but that does not mean it is not legal.
Vietnam will not prohibit Bitcoin, nor can it be banned, as it is a human asset. Bitcoin is not banned from trading, exchanging, donating ... it is forbidden to pay, ie prohibits viewing it as money.
Thinking bitcoin is a human asset and bitcoin cannot be controlled by anyone because bitcoin can only be used as an income so I think bitcoin will not ban bitcoin as a source of profit and transactions in Vietnam.You are wrong, whales already control bitcoin, move its prices as they need
Starting 2018, using cryptocurrencies like Bitcoin in Vietnam will be illegal and subject to a $9,000 fine
The State Bank of Vietnam (SBV) has amended its monetary regulations to make Bitcoin and similar virtual currencies illegal. In an announcement revealed today – it is now illegal to issue, supply or otherwise use Bitcoin because it has been designated as an illegal means of payment. The SBV notice clarified that the only officially accepted means of payment in Vietnam are checks, payment orders, payment orders, collection orders, bank cards as well as any other payment instruments approved by the State Bank. The move against cryptocurrencies follows similar bans on centralized virtual currencies, often used for gaming or gambling, as well.
While no other altcoins like ZCash, Ethereum, Litecoin, Ripple, and others are specifically named, it’s pretty clear that Vietnam is also considering these other cryptocurrencies to be illegal means of payment, as well. What’s the penalty for using illegal means of payment? 150 million to 200 million VN – which translates to roughly $9,000 USD.
I would like also that countries will accept also the other cryptocurrencies and not only Bitcoin, I would like to the countries which are loyal to the crypto currency that they will accept all my favourite coins that I have. The State Bank of Vietnam (SBV) has amended its monetary regulations to make Bitcoin and similar virtual currencies illegal. In an announcement revealed today – it is now illegal to issue, supply or otherwise use Bitcoin because it has been designated as an illegal means of payment. The SBV notice clarified that the only officially accepted means of payment in Vietnam are checks, payment orders, payment orders, collection orders, bank cards as well as any other payment instruments approved by the State Bank. The move against cryptocurrencies follows similar bans on centralized virtual currencies, often used for gaming or gambling, as well.
While no other altcoins like ZCash, Ethereum, Litecoin, Ripple, and others are specifically named, it’s pretty clear that Vietnam is also considering these other cryptocurrencies to be illegal means of payment, as well. What’s the penalty for using illegal means of payment? 150 million to 200 million VN – which translates to roughly $9,000 USD.
In Vietnam bitcoin is legal. That’s why this country peoples are investing on this project and earn lots of profit from .They use bitcoin like a asset.
Starting 2018, using cryptocurrencies like Bitcoin in Vietnam will be illegal and subject to a $9,000 fine
The State Bank of Vietnam (SBV) has amended its monetary regulations to make Bitcoin and similar virtual currencies illegal. In an announcement revealed today – it is now illegal to issue, supply or otherwise use Bitcoin because it has been designated as an illegal means of payment. The SBV notice clarified that the only officially accepted means of payment in Vietnam are checks, payment orders, payment orders, collection orders, bank cards as well as any other payment instruments approved by the State Bank. The move against cryptocurrencies follows similar bans on centralized virtual currencies, often used for gaming or gambling, as well.
While no other altcoins like ZCash, Ethereum, Litecoin, Ripple, and others are specifically named, it’s pretty clear that Vietnam is also considering these other cryptocurrencies to be illegal means of payment, as well. What’s the penalty for using illegal means of payment? 150 million to 200 million VN – which translates to roughly $9,000 USD.
I have long heard about this news, I have read it on one website, if you quote this news from the website I suggest that you embed the website address The State Bank of Vietnam (SBV) has amended its monetary regulations to make Bitcoin and similar virtual currencies illegal. In an announcement revealed today – it is now illegal to issue, supply or otherwise use Bitcoin because it has been designated as an illegal means of payment. The SBV notice clarified that the only officially accepted means of payment in Vietnam are checks, payment orders, payment orders, collection orders, bank cards as well as any other payment instruments approved by the State Bank. The move against cryptocurrencies follows similar bans on centralized virtual currencies, often used for gaming or gambling, as well.
While no other altcoins like ZCash, Ethereum, Litecoin, Ripple, and others are specifically named, it’s pretty clear that Vietnam is also considering these other cryptocurrencies to be illegal means of payment, as well. What’s the penalty for using illegal means of payment? 150 million to 200 million VN – which translates to roughly $9,000 USD.
Vietnam will not prohibit Bitcoin, nor can it be banned, as it is a human asset. Bitcoin is not banned from trading, exchanging, donating ... it is forbidden to pay, ie prohibits viewing it as money.
Thinking bitcoin is a human asset and bitcoin cannot be controlled by anyone because bitcoin can only be used as an income so I think bitcoin will not ban bitcoin as a source of profit and transactions in Vietnam.
This is really bad news for the market of crypto currency as well as for the bitcoin. Governments must have taken this decision in order to save their own currency. They will realize their mistake soon.
The Vietnamese government bans Bitcoin because it does not collect taxes or other reasons. This is a bad thing. This will prevent the success of many people. I hope the Altcoins will be okay.
The law and it's enforcement is particular to Vietnam and people within the country called Vietnam. I do not see it as a big deal because that same government in no distant time might come back and change the policy and crypt currency will become legal in Vietnam.
I hope Bitcoin will one day be legal everywhere in the world. Banning it makes no sense at all because people will use it one way or another.
recently vietnam banned and consider bitcoin as illegal. the popularity of bitcoin are rising up day by day. hopefully than the government will understand their fault.
They definately should unbann it because it's impossible to control every single person if they don't have any bitcoin wallets or make any transfers with it. Everybody with internet connection can have bitcoin.
Where it is not specified Bitcoin is money or goods and it is not specified Bitcoin is a means of payment is prohibited, the payment through Bitcoin completely outside the authority of the State Bank of Vietnam
This is a very old news and I am sure it was posted in the forum before. Nonetheless, you should know the difference between banning bitcoin payments and banning bitcoin exchange and trading are two different things entirely. Just because Vietnam has banned bitcoin to accepted as payments doesn't mean that Vietnamese citizens can't own Bitcoin or trade them.
This is a really old news. Plus a bit tampered. BTC is not illegal in Vietnam. It has been made illegal to trade or make any sorts of payment in BTC in that country.
I read that the demand of the people there for property development is very high, so the banks in Vietnam are very aggressive to give a positive response to the demands of society.
on the other side, the technology sector in Vietnam is very good, so technology is also a main priority there.
So, I think Vietnam is perfect, even there are many small businesses that accept bitcoin payments, but the government does not want to recognize bitcoin as a legal payment instrument.
in general, the development of bitcoin in Southeast Asia is not well developed and is only speculative.
on the other side, the technology sector in Vietnam is very good, so technology is also a main priority there.
So, I think Vietnam is perfect, even there are many small businesses that accept bitcoin payments, but the government does not want to recognize bitcoin as a legal payment instrument.
in general, the development of bitcoin in Southeast Asia is not well developed and is only speculative.
Seems like Vietnam has banned Bitcoin to be used as checks, payment orders, collection orders, bank cards etc. which are just payment methods but they cannot really ban the trading and exchanging of Bitcoin which is more important to the users. So, I don't feel that it will have any negative affect on the users as they can always choose to bypass the government regulations and trade their coins.
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