And now Vietnam to legalize Bitcoin

[Kisanaq]

Earlier vietnam was very skeptical about bitcoin just like China and Russia.But now,it has changed its stand and has decided to legalize bitcoin.It is said that new regulations would be implemented by the year end.

         www.zerohedge.com/news/2017-08-26/vietnam-plans-legalize-bitcoin-2018

It is a very good start, now many people are familiar with bitcoin and there will be more people who will use it.

really, it's good to hear this news, it makes me not going to sell bitcoin any time soon, the price will never drop significantly, bitcoin users especially from vietnam will increase drastically and I hope to be followed by other countries.

[Jet Cash]

What do you mean by "legalise"? Surely it is legal until it is made illegal.

Here is a description of legal tender in the UK -

Legal tender has a very narrow and technical meaning in the settlement of debts. It means that a debtor cannot successfully be sued for non-payment if he pays into court in legal tender. It does not mean that any ordinary transaction has to take place in legal tender or only within the amount denominated by the legislation. Both parties are free to agree to accept any form of payment whether legal tender or otherwise according to their wishes. In order to comply with the very strict rules governing an actual legal tender it is necessary, for example, actually to offer the exact amount due because no change can be demanded.

So you can't pay your court fines using Bitcoin, but shops can accept them if they choose to.

[Pettuh4]

News like this are those I want to always see in the forum but at the same time, the implementation is what mattered rather than this proposal as I see its not happening any time soon until 2018. I hope to see this come into fruition eventually and see the effect its going to have on the crypto space in general. But at the same time one should be mindful because decisions can change anytime with recourse to those who relied on it.

Great news, more demand of Bitcoin from Vietnam and then we grow in value and investment. IT couldn't get better than this. Whether it will be effective 2018 or now it is still commendable and it's going to impact our wallets.

[rb26]

Earlier vietnam was very skeptical about bitcoin just like China and Russia.But now,it has changed its stand and has decided to legalize bitcoin.It is said that new regulations would be implemented by the year end.

         www.zerohedge.com/news/2017-08-26/vietnam-plans-legalize-bitcoin-2018

That is a great news. I can see a wonderful opening of 2018. More and more countries are starting to review Bitcoin and eventually accepts it as a method of payment. I just hope that Vietnam will utilize Bitcoin to its fullest could propagate the knowledge about Bitcoin through its citizens. I am foreseeing a price increase.

[Mometaskers]

This is great news. It is legal here in the Philippines. I'm not sure about other ASEAN members but I definitely haven't heard it being banned by any of our neighbors. One more member legalizing it would hopefully encourage the others to join in.

I'd like to be more hopeful. Maybe once all members have it legalized, the bloc would have a body overseeing the exchanges to reduce the likelihood of theft. It would be nice if exchanges within the bloc have some sort of arrangement to reduce transfer time between them and reduce fees as well.

[Edwardbn]

Vietnam's move is another sign that Bitcoin and electronic currencies in general are on the way to becoming a true global currency.

[DigitalLemming]

Wow this is great news. I generally take a trip there every few years. Next time I'm there I will keep a look out too see how it is being accepted!

[Smith13c]

The State Bank of Vietnam issued a press release in February 2014 confirming the use of Bitcoin virtual currency as a payment instrument not recognized and protected by law, without referring to the Bitcoin transaction. is a violation of any provision of the law of the State of Vietnam.
By 2019, Vietnam is truly integrated into the world

[PedroLinh]

Currently, no accurate source of information is legally recognized as a violation of the law by Bitcoin. But there are still two waves of Bitcoin that are legitimate Bitcoin and Bitcoin multi-level. If they want to handle cases showing signs of law violation or violation of State management regulations, they must have evidences and documents of law. Using, trading, owning Bitcoin in Vietnam is not a violation of law but is not adjusted. When Bitcoin is "tuned", many people will believe and understand the meaning of Bitcoin, but in fact, Bitcoin is "not adjusted" is an advantage for businesses because Bitcoin transaction costs are low, not tolerate. Any tax, paid nationwide, in particular, is not bound by any applicable law.

[humanCNC]

I just want to ask if this is true or not. As far as I know, btc is far from familiar to the people and only one ATM station btc but not the government. But if this is a reliable source, it's really very happy.

[pekingcoepo]

It is not surprising that Vietnam began legalizing BItcoin, as Vietnam has begun using Bitcoin and has worked with Bitcoin agents and Israeli exchange since 2014, and many other small businesses in Vietnam have received payments with Bitcoin, possibly with this news going to many other countries in Asia which will follow in the footsteps of Vietnam.

[Thymoty]

Earlier vietnam was very skeptical about bitcoin just like China and Russia.But now,it has changed its stand and has decided to legalize bitcoin.It is said that new regulations would be implemented by the year end.

         www.zerohedge.com/news/2017-08-26/vietnam-plans-legalize-bitcoin-2018

wow the sound is good , i'm sure in future every country will legalize bitcoin as a payment , bitcoin is a miracle , many people have to feel the result of bitcoin , applause for bitcoin ..

[aoluain]

Very Very good news!
Yet another Asian country to legalise bitcoin, Asia in general
seem to be moving forward with accepting, legalising, recognising
crypto currencies, while here in Europe there really is no news in
that regard likewise in north and south America.

[ludbega]

It's a very good news. A nice country who wants become an other good destination... But it's my favorite between India and Japan... Japan is so expansive

The Promises of the East

Do they want to become the next exotic destination for retirees of the bitcoin?

[Adbitco]

The economy of Vietnam is not a strong one like that of Japan or China and hence doesn't have any significant impact on the rest of the world trade, business etc but it's recognizing and then planning to legalize bitcoin is a decision which must be welcomed as this is going to make bitcoin's presence wider and this adds to the over all growth of cryptocurrencies. It's really a good news in that sense.

[dark08]

That's a great move for Vietnam to finally legalize the bitcoin like Japan a while back ago their successfully legalized cryptocurrencies and we all know that Japan have a strong economy I think more country will realize the potential of accepting bitcoin more people will favor for this.
So we can expect that bitcoin will continue to rise and spread all over the world.

[RajaJudi]

no, they are not. I have a Vietnamese friend and he said that the situation is not the same as you guy think. Everything the government wants is the money. They want to control bitcoin so that they can collect tax and people's money. In Vietnam, more than half of the population dislike the government.

[haroldtee]

no, they are not. I have a Vietnamese friend and he said that the situation is not the same as you guy think. Everything the government wants is the money. They want to control bitcoin so that they can collect tax and people's money. In Vietnam, more than half of the population dislike the government.

And this is definitely not a good way to go about this. So apparently the government is just busy thinking about herself than the masses. Obviously, the leaders are trying to play some selfish game for their own pockets. I won't blame the masses if they totally dislike their government as you said.

[Psalms23]

Its a good thing that Vietnam finally legalized bitcoin. It won't be long enough until other countries follow this decision.  Governments should realize that bitcoin is becoming stronger and that they should participate in this. They should also realize that there is income in bitcoin for their country.

[audaciousbeing]

Earlier vietnam was very skeptical about bitcoin just like China and Russia.But now,it has changed its stand and has decided to legalize bitcoin.It is said that new regulations would be implemented by the year end.

         www.zerohedge.com/news/2017-08-26/vietnam-plans-legalize-bitcoin-2018

This is one key thing every country will still come to accept and those who are going on the negative in the case of bitcoin, are just living in self denial which I know won't last for long if they are prepared to feature in the future of money because so far they cannot stop civilisation and the quest for freedom, ignoring bitcoin or against it won't last long and will equally not hold for a long time. Its better they take the route Vietnam is taking and design a master plan or road map for such.