Vietnam Advances Cryptocurrency Legal Framework

Amendments to the tax code are expected to be presented to the Council of ministers by the end of the month
08 January 2018   832

The government of Vietnam has undertaken steps to accelerate the adoption of cryptocurrency regulation. Deputy Prime Minister Vuong Dinh Hue has asked the Ministry of Justice and the State Bank to complete the legal framework and report to the government. Amendments to the tax code are expected to be presented to the Council of ministers by the end of the month.

The central bank of Vietnam will assume responsibility for proposing amendments to the taxation laws. Respective supplements related to cryptocurrencies should be promulgated soon after the introduction of the regulatory regime. The exact tax rates and their scope in regards to income and profit from trading and mining are still to be defined.

In addition to the legal framework for managing Bitcoin, the finance ministry has been urged to complete a project on expanding the tax base of the non-state sector. And the Ministry of Planning and Investment was asked to provide a statistical overview of the whole Vietnamese economy. 

Casa to Launch Lightning Node Mobile App Called Sats

Casa to Launch Sats App With Lightning Network Support
04 July 2019   1011

Casa startup, specializing in the creation of secure storage systems for private keys, introduced a mobile bitcoin application Sats App, which makes it easy to manage Lightning-node.

Sats App is positioned as a non-custodial bitcoin wallet "with unique functions." According to Casa CEO Jeremy Welch, the SatsBack reward program will soon be launched, under which users will receive small amounts in BTC. For example, for connecting an application and a Casa Node device to each other, the user will receive 20,000 Satoshi.

Features are focused on increasing adoption of bitcoin and lightning nodes. You will be able to earn bitcoin if you don’t have a Casa node, but you will be able to earn bitcoin faster if you have a node.

Jeremy Welch 

CEO, Casa

He also added that the application, available for iOS and Android, is “secure, private and connects via Tor”.

According to CoinDesk, the startup earlier raised $ 3.5 million from Castle Island Ventures, Boost VC and Compound, and several other investors. Currently, a startup staff of 25 people serves users from 60 countries.