Vietnam to ban cryptocurrencies

Crypto-currencies will become illegal means of payment in Vietnam since 1 January 2018
30 October 2017   438

The State Bank of Vietnam amended the country's monetary policy, according to which circulation of bitcoin and other cryptocurrencies will become illegal from January 1 of the next year. Violators face a $ 9000 fine. This is reported by Blockexplorer.

Crypto-currencies become illegal means of payment and any operations with digital assets fall under the ban. The resolution of the State Bank of Vietnam states that only checks, collection and payment orders, bank cards and any other instruments approved by the central monetary regulator of the country can be used as payment means in the country.

From 1-1-2018, the act of issuing, supplying and using illegal means of payment (including bitcoin and other similar virtual currency) may be subject to prosecution in accordance with the provisions of clause 1 (h) of Article 206 of the Penal Code 2015 (as amended and supplemented in 2017).
As such, Bitcoin and other similar virtual currencies are not legal 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.
 

Amendments to legislation

As for the cryptocurrency mining in Vietnam, it is still unknown whether it falls under the ban, in accordance with the new amendments of the central bank.

Swansea Hosts Blockchain and Distributed Energy Conference

The BEW'18, which will be held on February 19, 2018 in Swansea, UK, is a must-attend for people who are interested in the cutting edge of blockchain
19 February 2018   238

The Blockchain Energy Wales'18 Conference will be held on February 19, 2018 in Swansea, United Kingdom.

The conference will introduce Klenergy and their Pylon Network, which is a decentralised energy exchange platform powered by renewable energy. The BEW'18 is a must-attend for people who are interested in the cutting edge of blockchain, distributed energy, peer2peer and smart technology.

BEW conference location swanseaBEW'18 Exact Location

Location: TechHub Swansea, 221 Stryd Fawr, Swansea SA1 1NW, UK
Time: from 9AM to 1.30PM

The headline speakers include Paul Harwood, Basicincome supporter and advocate, and David Clubb, director of RUKCymru and head of digital RenewableUK.

The agenda of the conference is as follows: Blockchain technology and its application in the energy sector, future of blockchain wallet systems, buildings as power stations, building the open-source co-operation protocol for the energy sector, and more.