It means anybody who dares hold a lot of bitcoins or any company that dares try to do business in bitcoin will be at risk anytime the government decides to come for you. What recourse would you have?

Huge typo in the title has been fixed.

Vietnam.vn official link: http://en.vietnam.vn/Spotlightview/No-Transaction-In-Bitcoin-Is-Allowed-In-Vietnam.html

The Government and the State Bank of Vietnam do not recognize Bitcoin as a means of payment in the territories of Vietnam.

According to the State Bank of Vietnam, as stipulated by the Law, only Vietnam đồng (Vietnam currency) is used in the territories of Vietnam as a means of payment. That is why, the Government and the State Bank of Vietnam do not recognize Bitcoin as a means of payment in the whole territories of Vietnam.

No transaction in Bitcoin is allowed in Vietnam

The State Bank of Vietnam has reported it to the Government and sent an official note warning about the risks in the Bitcoin using transactions and affirming that the Vietnamese Government does not recognize and allow the Bitcoin using transactions and is not responsible to resolve the arising disputes relating to the Bitcoin using transactions. At the same time, the State Bank of Vietnam will enhance the study and formulate the stipulations on managing the activities in relation to the e-money and submit it to the Government for promulgation.