i wish to clarify the FUD
it is not banned in ANY country
every country allows bitcoin trades. what each country is announcing is that banks have to issue risk assessment and inform consumers that investments are risky, that they can gain, but also lose.
that unless there is a contract for guaranteed income, investments are not guaranteed. meaning be aware of the risks if you wish to invest in bitcoin.
this is standard banking rules to announce risk assessments. also banks have announced that they themselves will not sell bitcoins to consumers, as they themselves are contracted to only use their native FIAT. this has nothing to do with consumers or businesses trading bitcoins.
and lastly most consumers and businesses do not explain their business plans clearly, do not use the correct type of bank account, and when moving their FIAT around, do not properly follow the FIAT rules. leading to these people becoming a high risk and banks shutting those individual entities down. it is NOT a broad stroke of all bitcoin businesses.
its the individual entities that do not follow the rules and ethics of banking properly that get shut down and then cry like babies blaming the decision to shut their account on bitcoin, rather than their own mis-use of the bank account.
take the exchanges in china for instance. in december none of them had the licences for the telecommunication of money. they were given months to prepare, and still some did not get the licences. the ones still operating now are either using commercial banks away from central banks. or they have now got licences to work with central banks.
it is not banned in ANY country
every country allows bitcoin trades. what each country is announcing is that banks have to issue risk assessment and inform consumers that investments are risky, that they can gain, but also lose.
that unless there is a contract for guaranteed income, investments are not guaranteed. meaning be aware of the risks if you wish to invest in bitcoin.
this is standard banking rules to announce risk assessments. also banks have announced that they themselves will not sell bitcoins to consumers, as they themselves are contracted to only use their native FIAT. this has nothing to do with consumers or businesses trading bitcoins.
and lastly most consumers and businesses do not explain their business plans clearly, do not use the correct type of bank account, and when moving their FIAT around, do not properly follow the FIAT rules. leading to these people becoming a high risk and banks shutting those individual entities down. it is NOT a broad stroke of all bitcoin businesses.
its the individual entities that do not follow the rules and ethics of banking properly that get shut down and then cry like babies blaming the decision to shut their account on bitcoin, rather than their own mis-use of the bank account.
take the exchanges in china for instance. in december none of them had the licences for the telecommunication of money. they were given months to prepare, and still some did not get the licences. the ones still operating now are either using commercial banks away from central banks. or they have now got licences to work with central banks.
What i heard in vietnam you cant use Bitcoin and its a law over there .
Well i heard in Vietnam its ok. I heard you can even go and use Bitcoin in some cafes, shops, smoothie bars.
Source: Lived and worked here for many years.
edit - read this in the local news today
Two directors of business enterprises virtual currency (bitcoi) in Khanh Hoa has officially been the Provincial Police prosecuted for "illegal business" acts of exploitation and sale of virtual currency.
Specifically, dated 06.05.2014, the Police Department investigation of crimes and economic self-management positions (PC46) Khanh Hoa Provincial Police decision to prosecute accused Mr Nguyen Van Minh and Nguyen Van Thong the crime of illegal business. previously dated 15/03/2014 about 5:30, police raided the house suddenly 289 Le Hong Phong, Ho Chi Minh City. Nha Trang - accommodation and is also based his business Minh City (56, branch manager of Nha Trang Co., Ltd consultancy VM) and he Info (28 years old, Director of Trading & Service 289) , most of the property seized, including more than 460 million in cash, equipment and working facilities, records, books, stamps ... and freeze the bank accounts of two businesses this .. After that, the two men have repeatedly Ming and information have application to return the property, records, seal, cleared in bank account, single cry, complaint .., so that their wrongfully convicted. However, after repeatedly passed, he has made two complaints against "police raided, seized property illegally." the two men said that their virtual money to play with personally identifiable through a personal account, not related to the business activities of the two companies. However, the police investigation confirmed "the active conduct of the investigating agency for two by two companies he is a director in accordance with law." Also related to bitcoi virtual currency in Vietnam South, Thursday 25/3, the two companies Bitcoin Vietnam and Bit2C - a company of Bitcoin in Israel has announced this partnership and declared "officially open collaborative online Bitcoin exchanges VBTC in Vietnam". The two companies are also expected to launch online Bitcoin exchanges by the end of April. Department of Electronic Commerce and Information Technology (Ministry of Industry and Trade) later confirmed not to accept the notification and registration of Bitcoin trading website in Vietnam. Since, when Vietnam Co. Ltd conduct Bitcoin informed bitcoinvietnam.com.vn website under notification procedures ecommerce website sales, Electronic Commerce and the Department of Technology information were denied. Earlier, the State Bank of Vietnam and recommendations, the virtual currency Bitcoin and other similar currency is not and is not a legal means of payment in Vietnam. The possession, sale, use Bitcoin as an asset class so much potential risks to people and not be protected by law. State Bank recommends that organizations and individuals should not invest, hold, carry out transactions involving the virtual currency Bitcoin and other similar.
-- Two business directors in the coastal province of Khanh Hoa were Thursday placed under investigation for trading virtual currency, including bitcoin and other illegal currencies.
