RATE Group | Laos Central Bank Warns Public Against Cryptocurrency Trading
41032
wp-singular,post-template-default,single,single-post,postid-41032,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Laos Central Bank Warns Public Against Cryptocurrency Trading

03 Sep Laos Central Bank Warns Public Against Cryptocurrency Trading

Posted at 18:04h in Cryptocurrency News by

[ad_1]


Laos Central Bank Cryptocurrency

Laos’ central bank has published a notice cautioning the public against cryptocurrency trading and their usage in payments.

In a notice [PDF], dated 29 August, the Bank of Laos (BOL) said the public is warned against the use of “unregulated” cryptocurrencies, specifically naming Bitcoin, Ethereum and Litecoin as examples. Addressed to merchants, traders and residents, the notice also urged citizens to research and understand any digital assets. The notice warned against the purchase and sale, or trading of digital assets, talking up the risks in crypto-related investments.

According to the Laotian Times, the central bank pointed to the current Law on Payment Systems (last revised in November 2017) that refutes cryptocurrencies as payment instruments after claiming they do not meet the standards required for classification as a currency.

As things stand, there is no provision in Lao law to recognize cryptocurrencies nor are they regulated by any legislation in the…

[ad_2]

Source link

Tags:
, , , , , ,