The State Bank of Vietman has issued Information related to the use of virtual currency that bans use of the cryptocurrency for payments.

It wont say why, and doesnt explicitly ban mining or blockchain.

The Bank lists conventional payment mechanisms like cheques, payment orders and credit cards as permitted, but then adds (after translation) that Bitcoin virtual currency and other similar is not lawful means of payment in Vietnam; The issuance, supply, use of bitcoin and other similar virtual currency as a means of payment is prohibited in Vietnam.

Fines of around US$9,000 apply to those who accept or offer payments in virtual currencies.

Why the Bank decided to make the statement is unclear, but its not hard to guess why: Vietnams government is a little like Chinas in that it permits private enterprise but remains a single-party communist state. Virtual currencies represent a threat to command economies that such regimes find hard to tolerate, as Chinas shuttering of Bitcoin exchanges and Russias attempts to do likewise demonstrate.

The ban does not, however, mention mining or exchange of virtual currencies, leaving open the possibility that Vietnam will permit cryptocurrency-or-blockchain-related activity. So long as theyre not used to buy and sell stuff.

Vietnams trying to reform its economy, is already winning manufacturing work from China and attracting considerable foreign investment. Its not hard to imagine blockchain making a splash there, even if Bitcoin is banished from commerce.

Source
http://www.coinn.club/bitcoin-altcoin-signals/vietnam-bans-bitcoin-as-payment/

The government does not have any regulations to manage btc transactions, while a university is required to accept btc to pay tuition fees. That's one reason the government banned btc. On the other hand, accepting btc in Vietnam would be more beneficial to foreign firms than to domestic firms. This will partly affect the national economic interests.

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