Legal regulation of the use of virtual currency Bitcoin

Legal regulation of the use of virtual currency Bitcoin

Received the invitation of the VOV TV Editorial Board, Lawyer Nguyen Thanh Ha, the Director of S&B Law, will discuss about the issues of using Bitcoin in e-commercial deal today.

The contents of the interview refer to the following three issues:

The first issue:
Recently, the State Bank said that Bitcoin is illegal in Vietnam, therefore not acceptable on the whole territory of Vietnam. However, we don’t have a formal written or legal framework and some websites still permits Bitcoin payment, even shopping online. Is the Bitcoin management in Vietnam being floating?

The second issue:
Because Bitcoin is not managed by any government or bank, so in many countries, Bitcoin becomes a desired currency of criminal such as buying and selling drug, weapons and money laundering. Does this happen in Vietnam, sir?

The third issue:
Although not acceptable, clients still look for Bitcoin. And we can see the very high risk of Bitcoin. So, when Vietnamese clients are at risk, their benefit will not be protected?

» Financial legal advice

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