Prohibiting the Provision of Payment Services Related to Virtual Currency

08:57, 11/07/2024

This is the latest directive mentioned in Directive 02/CT-NHNN by the Governor of the State Bank of Vietnam regarding measures to strengthen control of virtual currencies.

To limit the increasingly complex development of the Bitcoin trading market and similar virtual currencies (hereinafter referred to as virtual currencies), which severely affect the socio-economic landscape.

The Governor of the State Bank requires credit institutions to strictly implement the following measures:

- Promptly review and report suspicious transactions related to virtual currencies;- Prohibit the provision of payment services and transactions related to virtual currencies;- Actively disseminate, propagate, and publicize the guidelines and directives of the Government of Vietnam and the State Bank of Vietnam;- Promptly handle violations related to the activities and transactions of virtual currencies.

See the detailed measures in Directive 02/CT-NHNN issued on April 13, 2018.

Prohibit provision of payment services related to virtual currencies

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

0 lượt xem

- This translation is generated by OpenAI's GPT-4o model;
- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn