Vietnam to create legal framework for digital assets

The Vietnamese Prime Minister has approved a plan to formally recognize Bitcoin as a form of payment 
28 August 2017   583

Prime Minister Nguyen Xuan Phuc this week approved the plan to scrutinise and streamline the legal framework for the management of cryptocurrencies such as Bitcoin in Vietnam by 2018.

The PM has asked the Ministry of Justice to preside and co-ordinate with other relevant ministries and institutions, including the State Bank of Việt Nam, Ministry of Information and Communications, Ministry of Public Security, Ministry of Industry and Trade and Ministry of Finance, to scrutinise the current legal framework, provide a comprehensive assessment and propose suitable solutions and revisions in the framework to the Government.
 

vietnamnews.vn

Thus, the Vietnamese government hoped to protect consumers by strengthening laws and regulations, furthering prohibition, and actively cautioning the public about the risks involved in dealing with digital money. However, digital currencies have been thriving in Vietnam: there has been a significant increase in investment and business transactions in the northern border provinces, central provinces, and the central highlands.

Now, according to vietnamnews.vn, by June 2019, the ministries must “finalize an application asking for the compilation of a legal framework on taxes for cryptocurrencies.” On top of that, the ministries must submit proposals for the prevention and resolution of related violations by September 2019.

If approved, the move would signal that leaders in Vietnam are moving away from the more cautious viewpoint expressed in 2014, when central bank officials warned consumers about the risk of cryptocurrencies.

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   204

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.