The bank’s proposals aim to shut down activities relating to Bitcoin including issuance, distribution, and use. Thus, Bitcoin users may be subject to criminal prosecution and fined up to 8,800 USD. The publication noted that the issuance, supply and use of illegal means of payment, not only for Bitcoin, but for other digital currencies, as well, may be subject to prosecution from January 1, 2018, onward.
Currently, the Vietnamese law does not prohibit Bitcoin in the country. The president of Vietnamese FPT University said that the university will accept Bitcoin for tuition, effective immediately for foreign students. Meanwhile, National Assembly representative proposed for Vietnam to legalize Bitcoin transactions in the near future in order to oversee civil transactions and collect taxes. The deputy asserted that “Bitcoin transactions still take place, with or without [the] law”, according to Bitcoin News.
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