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Vietnam authorities look for crackdown on unlawful cryptocurrencies after $660 million scam

Shortly after an accused scam involved in hundreds of millions of dollars and thousands of people, Prime Minister Nguyen Xuan Phuc recently called for rules to strengthen the management on activities related to cryptocurrencies.

The Deputy Prime Minister urges to finalize the legal framework for managing virtual currencies

Deputy Prime Minister Vuong Dinh Hue has urged the Ministry of Justice to chair and coordinate with the State Bank to urgently research and finalize the legal framework for managing virtual currencies in Vietnam and report to the Prime Minister by January 30, 2018.

SBV bans use of bitcoin in Viet Nam

The State Bank of Vietnam (SBV) recently affirmed that bitcoin and other similar virtual currencies are not a legal payment instrument in Vietnam.

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