Bitcoin Legalization Continues – Vietnam Plans Out
A plan has been pulled out and agreed to be worked on by the prime minister of Vietnam, which could possibly make the country formerly accept Bitcoin Digital Currency as a payment in 2018.
Based on a published press by VNA – the regional news service, Nguyen Xuan Phuc – The Prime Minister has put on quest the Central Bank and also including Ministry of Public Safety and Ministry of Finance to form out a legal framework when it comes to Virtual Currencies.
Next year around August, a completed assessment will be out on what way is the best for the GOV to make contact with this particular process. After that, with the legal documents that are a condition for a Cryptocurrency to be recognized will be out and made under the above mentioned regulatory framework. All-finished will be due end of 2018.
Of course, after all this a tax treatment for Cryptocurrency users will be planned out that will be a infrastructure organizing and governing how the owners and traders of virtual assets will be taxed. It is planned to be worked out in around two years – June 2019 – Based on the information on VNA.
This would be a complete different approach and contrary with what the Central Bank and Officials stated out in 2014, expressing for all users and consumers of digital currencies to be cautious and risk-warned.