RATE Group | Vietnam Officials Issue Another Ban On Cryptocurrency
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Vietnam Officials Issue Another Ban On Cryptocurrency

27 Jul Vietnam Officials Issue Another Ban On Cryptocurrency

Posted at 04:15h in Cryptocurrency News by

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Vietnam’s State Securities Commission says good night, cryptocurrency.

The State Securities Commission (SSC) in Vietnam has reportedly banned financial companies from using cryptocurrency.

According to an announcement made by the SSC earlier this week, and reported by the government-affiliated English-language newspaper Viet Nam News, the country’s securities regulator has forbidden public companies, securities companies, fund management companies, and securities investment funds from engaging “in any issuance, transaction or brokerage activities related to cryptocurrencies.”

This ban is the latest in a series of government actions after two massive ICO scams perpetrated by Vietnam-based Modern Tech. In April, Prime Minister Nguyễn Xuân Phúc issued a directive to several different government agencies urging them to take a more active role in enforcing rules and regulations involving cryptocurrency.

In response to the prime minister’s April directive, the State Bank of Vietnam…

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