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2017 was a good year for BitCoin and other cryptocurrencies. This has led to a massive interest among Vietnamese, and thus an increasing number of imported cryptocurrencies mining hardware and cryptocurrencies transactions as an investment in Vietnam. However, the heat of excitement was soon cooled down as cryptocurrencies in Vietnam is not legally accepted as a medium of exchange for goods and services.
Many issues arose as a result of the sudden high attention of Vietnamese in BitCoin in 2017:
All of which call for a proper regulatory framework for cryptocurrencies in Vietnam:
For more information about Cryptocurrencies and Forex in Vietnam, visit https://www.fibo-group.vn/ to learn more about virtual investment and trading.
Investment in cryptocurrencies in Vietnam has started early, since the early age of blockchain technology (2009), but only gained a growth around 2013 and an incredible amount of attention in 2017.
Usage and understanding of the technology behind the cryptocurrencies in Vietnam, especially the general public, were limited before 2017, which along with the incomplete legal framework at present, their application as a popular method of payment in Vietnam still has a long way to go.
However, Vietnam is still ranked in countries with the highest number of logins in BitCoin exchanges and among the largest cryptocurrencies transaction markets.
© Written by Nhi Nguyen for itourvn.com
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