While bitcoin is being increasingly accepted in the world, some countries do not want to deal with it. Does it influence their economy and financial system in a negative way?
But they do not think so.
Vietnam is one of those non-welcoming for bitcoin countries. The national bank has announced that cryptocurrency, any of them, including the famous bitcoin, are illegal to make any financial operations with them.
Indonesia, then Vietnam – those are the two counties that have recently announced that cryptocurrencies are illegal. Though, bitcoin doesn’t seem to suffer much, as both countries didn’t play practically any role in the cryptocurrency market. Moreover, bitcoin price has achieved its historical level of 7300 USD.
The banning of cryptocurrency will not influence the cryptocurrency, while for local institutions it may cause a serious crisis. For example, the rector of one private university has complained already that they were going to accept bitcoin for payments within the university, now that can hardly happen.