Vietnam Prepares to Analyze Legal Framework for Bitcoin

Seeing the growth of Bitcoin. The Vietnamese Prime Minister has ordered Their Ministry of Finance, Ministry of Communications and Information Technology and Public welfare to have a look and present reports on how cryptocurrencies like Bitcoin can be legalized and perfectly integrated into the system. The Prime Minister thinks that cryptocurrencies will be the future and it's worth now to have discussions on it. The respective ministries have to respond by the end of the year and also have to suggest measures on how fraudulent activities arising because of use of cryptocurrencies can be avoided. Furthermore, the ministry must finalize a document by June 2019 that would provide a
legal framework for cryptocurrency taxes. Then by September, ideas about how to handle violations of cryptocurrency use must be ready.Do you think that the Vietnamese government will create a regulatory framework for bitcoin and other cryptocurrencies. Will people abide by the rules and regulations set forth? 

Published on : 2017-08-26 19:40:00