Vietnam Banned Cryptocurrency Payment in E-Commerce.
Cointime (April 16) — The Hanoi Department of Industry and Trade released a statement to ban cryptocurrency payment on E-Commerce.
The Statement said,
“April 13, Department of Industry and Trade has Document No. 1638 / SCT-QLTM sent to organizations and individuals directly or related to e-commerce business in Hanoi do not use Bitcoin and other Another virtual analog currency (cryptocurrency) in e-commerce transaction settlement, online service” (roughly translated by Google).
Following the report of the recent cryptocurrency fraud (reportedly around $658 million), Vietnam strengthened its cryptocurrency regulation last week.
The Prime Minister Nguyen Xuan Phuc also called for the tightening of oversight on cryptocurrency-related activities.
The press release further stated, the violators will be subjected to VND 150,000,000 to 200,000,000 (around $6,592 to $8,790). Furthermore, the act of issuing, providing, and payment of cryptocurrency will be subjected to criminal prosecution.
Executive editor： Angel