Vietnamese authorities have announced that they are investigating establishments that accept bitcoin for payments. This follows reports that restaurants and cafes are still accepting the digital currency despite the government warning that bitcoin is not a legal means of payment in Vietnam.
Investigating Bitcoin-Accepting Merchants
Vietnam Investigates Merchants for Accepting Bitcoin Despite WarningsDespite the State Bank of Vietnam warning that bitcoin is not a legal means of payment, the digital currency is still being used to pay for goods and services in the country, Vnexpress reported last week.
Citing that several coffee shops and restaurants in Ho Chi Minh City are still accepting bitcoin for payments, the publication quoted an official of the central bank saying:
In October, news.Bitcoin.com reported on the Vietnamese central bank announcing that it had completed the legal framework for digital currencies in Vietnam. While bitcoin itself is not banned, using it as a means of payment in the country could result in a fine between 150 million to 200 million dong (~USD8,800). “From January 1, 2018, the act of issuing, supplying or using illegal means of payment may be subject to prosecution in accordance with the provisions of Article 206 of the Penal Code 2015,” according to the bank’s announcement.![bitcoin-not-accepted-391x420.png]
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