[2017-10-29] Vietnam’s Central Bank Seeks to Ban Bitcoin Activities

[tyz]

Vietnam’s Central Bank Seeks to Ban Bitcoin Activities

The State Bank of Vietnam has developed a legal framework for digital currencies. The bank has submitted its proposals to its government, seeking to ban activities relating to bitcoin including issuance, distribution, and use. Bitcoin users may be subject to criminal prosecution and fined up to 200 million dong.

https://news.bitcoin.com/vietnams-central-bank-seeks-ban-bitcoin-activities/

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[bbc.reporter]

Vietnam will then serve as a nice proving ground for bitcoin. Their central bank will become a good example in showing that their laws cannot control the future of the cryptospace, but the cryptospace can move freely around their laws.

This is a time of celebration for bitcoin and private, anonymous cryptocoins.

[Notcalculator]

It's amazing how their univertity is embracing new technology. Kudos for them, for being a good example.

It's interesting to see how they'll impose these sanctions. China can't even completely ban facebook or google in their country. Those are centralized servers. How can Vietnam or any other government issue a ban on something decentralized like bitcoins.

[Marry Finch]

Some countries, such as Algeria, and now Vietnam, are trying to prohibit the circulation of crypto currency in their countries. Although it is, as always, a vision of its position by the State Bank of Vietnam. The position of the central bank is always practically at first in an attempt to prohibit the circulation of the crypto currency, and only then, when they are convinced of the impossibility of implementing this decision, they are looking for compromise options. The world must acquire the experience of such decisions and opportunities or the impossibility of their fulfillment.