Need to strictly manage cryptocurrencies | Politics

Need to strictly manage cryptocurrencies hinh anh 1Deputy Governor of the State Bank Dao Minh Tu. Photo: VNA

Hanoi (VNA) – The State Bank is drafting amendments to the Anti-Money Laundering Law and based on the recommendations of anti-money laundering organizations around the world, all countries must pay attention to the so-called asset and technology products of the finance sector to ensure rigorous management, fight against money laundering and terrorism, as well as for other purposes.

This was stated by the deputy governor of the State Bank Dao Minh Tu during the regular press conference of the government held on August 3 in Hanoi.

Need to strictly manage cryptocurrencies hinh anh 2Photo of the illustration: VNA

The Deputy Governor of the State Bank said that Bitcoin or other types of cryptocurrency are not currently legal means of payment in Vietnam. He said that in recent times the State Bank has given timely instructions to banks to avoid risks and abuse of cryptocurrencies in transaction activities. Credit institutions or payment intermediary service providers are not authorized to carry out transactions and activities related to cryptocurrencies for their clients due to the possible risks of money laundering and terrorist financing or tax evasion. … -VNA

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