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Bitcoin: Still not legal in Vietnam

by VTV421 November 2017 Last updated at 19:19 PM

VTV.vn - The General Department of Police under the Ministry of Public Security recently advised all organisations and individuals to refrain from investing in, possessing or making transactions with Bitcoin and other similar cryptocurrencies.

Since 2014, the State Bank of Vietnam has repeatedly stated that Bitcoin and other similar cryptocurrencies are not legal currencies or payment methods in Vietnam, and are not protected by Vietnamese law.

Bitcoin is a type of cryptocurrency, or virtual currency. It is the product of very complicated algorithms, and carries online encryption. Bitcoin is published by organisations, individuals and programmers and is not regulated by central banks. It is not guaranteed by cash, gold or other assets.

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