Vietnamese are encouraged to avoid financing cryptoprocta

Вьетнамцев призывают избегать финансирования криптопроектов

The official Vietnamese police stated that the country fundraising cryptocurrency is illegal, and people should not invest in them.

Former Deputy chief of management of criminal police of Vietnam vu Hoang KIEN (Vu Hoang Kien) said that measures to raise money for cryptocurrency companies in the country illegal.

KIEN advised the citizens of Vietnam to remain vigilant and not be seduced by the tempting offers of investment in cryptocurrencies, no matter how high profits are promised, reports Cointelegraph.

Except for the risk of investing in such schemes, he also stressed that investment in cryptocurrency and payments made using virtual currency is not recognized at the legislative level in the country. So, invest in cryptocurrencies or use them also constitutes a violation of the Vietnamese laws.

Despite the warnings, the citizens of the country continue to invest in cryptocurrency, as stated by Nguyen Us Gao (Nam Nguyen Hao) police Department corruption, smuggling and economic crimes. He also added that in order to reduce fraud and minimize other negative effects from cryptocurrency, Vietnam needs a more rigorous and specific regulatory rules.

Ban crypto in Vietnam

In August 2017, the Prime Minister of Vietnam Nguyen Xuan Phuc (Nguyen Xuan Phuc) has ordered the Central Bank of Vietnam and the Ministry of Finance to study the issue virtual currency and create a legislative framework for its regulation.

However, the inspection did not bring the country Cryptoprotected positive. Next month, the Central Bank acknowledged the use of bitcoin (BTC) and other cryptocurrencies illegal in the country. In April 2018 cryptocurrency was officially banned as a means of payment for goods and services.

Recently, the Ministry of Finance of Viet Nam announced that it plans to create a group of nine members, which will focus on identifying speculation with crypto and digital assets, and propose appropriate policies on regulation of the industry.

As he wrote Coinews, a bill banning cryptocurrencies has been proposed by the legislative body of Russia, but he criticized the Ministry of justice of the country.

The portal Coinews informed that the Chairman of the Committee of the State Duma on the financial markets Anatoly Aksakov said that cryptanalytic law of the country – the draft law “On digital of financial assets” – yet finalized, but before the end of the spring 2020 will not be accepted.

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