Vietnam is on the verge of cryptocurrency legalization

The Prime Minister of Vietnam, Nguyen Xuan Phuc, has signed a set of measures that will give bitcoin and other cryptocurrencies a legal status in this country, regional media outlets report.

Nguyen Xuan Phuc also ordered Ministry of Justice to upgrade the current laws in Vietnam together with other governmental institutions, such as State Bank of Vietnam, Ministry of Finance and Ministry of Industry and Trade. The government needs a good and thorough study about all laws that require update on this cryptocurrency topic. The deadline set to August 2018.

It seems that unlike the Russian Federation Ministry of Finance, the governmental bodies of Vietnam are aware that with legalized cryptocurrencies might come to their country. And it should be reminded that not so long ago Vietnam was a Communist state too, but looks like their post-Communist government did not inherit the urge to ban anything they can’t fully control.