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Vietnam prepares for legal recognition of bitcoin in 2018

vietnam to legalize bitcoin cryptomartez
vietnam to legalize bitcoin in 2018

The Prime Minister of Vietnam approved a plan according to which the country officially recognizes bitcoin as a form of payment by 2018.

According to the VNA regional news service, Vietnamese Prime Minister Nguyen Xuan Fuk instructed the country's central bank and the Ministry of Finance and the Ministry of Public Security to develop a legislative framework for crypto-currencies.

The government's position should be formed by August next year. Once this task is completed, the commission will begin drafting the legal documents necessary to recognize the place of the crypto currency in the country's regulatory framework, and this process is expected to be completed by the end of 2018.

Also, officials will begin to develop a crypto-tax regime. According to VNA, by June 2019, a system will be introduced, according to which users of crypto currency in Vietnam will be taxed.

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