RATE Group | Avoid cryptocurrency activities: Vietnam’s securities regulator
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Avoid cryptocurrency activities: Vietnam’s securities regulator

27 Jul Avoid cryptocurrency activities: Vietnam’s securities regulator

Posted at 19:30h in Cryptocurrency News by

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In order to put a hold on cryptocurrency and blockchain activities, Vietnam’s Securities Regulators have warned the country’s industries and funds to avoid cryptocurrency related activities.

According to a report in Coindesk, the developments have been worked out since April 2018 when Vietnam’s Prime Minister had asked its officials to control the management system related to cryptocurrencies. The use of cryptocurrencies as payment has been banned by the country since October 2017. However, there were speculations that the Prime Minister might reconsider its decision and recognize bitcoin as a legal tender.

The State Securities Commission (SSC) has warned industries to avoid transactions, issuance, and brokerage of cryptocurrencies. The SSC said that trading in cryptocurrencies is similar to money-laundering since they are not legal tenders. Furthermore, Vietnam’s central bank, the State Bank of Vietnam had given a nod for banning the import of cryptocurrency…

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