Vietnam Toughens Measures On Crypto Amid Suspicion Of Biggest Scam In Industry History

Vietnamese Prime Minister Nguyen Xuan Phuc has urged government and financial bodies to toughen the “management of activities related to Bitcoin and other cryptocurrencies,” in a government directive issued Friday, April 13, following reports of a major ICO scam in the country this week.

“Cryptocurrency investment and trading and raising money through initial coin offerings are evolving in a more complicated manner,” the government warned. These developments pose risks not only to finance, but to the country’s social order, it added.

Reuters further reports this week that the prime minister ordered the State Bank of Vietnam to crack down on all crypto-related financial services, as well as urging the Ministry of Justice to complete a legal framework for the management of virtual currencies and assets.


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