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“Vietnam’s communist government said trading in bitcoin and other electronic currencies is illegal, and warned its citizens not to use or invest in them. Currencies like bitcoin are unnerving financial regulators in Asia and elsewhere because they are outside of their control. Established banks don’t like them because people can send the money around the world with any fees.  There are a few websites that claim to offer bitcoin in exchange for Vietnamese dong, but it’s unclear whether they have done any trading so far. Aside from an investment and buying goods and services online, bitcoin could be used by Vietnam’s diaspora to sends home remittances.”

Archived link: http://www.businessweek.com/ap/2014-02-27/vietnam-says-bitcoin-transactions-are-illegal

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