The ownership and trading of bitcoin and similar currencies poses many risks as they are not protected by the law.
The bank warned organisations and individuals not to invest or conduct any payment with them.
First appearing on the Japan-based Mt.Gox exchange in June 2010, bitcoin has been widely used since early 2013 for payment and investment.
Many governments, including Thailand, Russia, France, China and Norway, do not recognise it as a legal currency.
Vietnam dismisses bitcoin as legal currency
The State Bank stated on February 27 that bitcoin and other virtual currencies are not legal tender or a permitted means of payment in Vietnam.
Credit institutions are not allowed to use them while supplying services to customers.
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Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.
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Vietnam GDP expands by 7.09% in 2024
The 2024 growth rate is considered positive amidst global uncertainties and domestic challenges such as natural disasters.
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Vietnam stock market set to accelerate in 2025: Experts
Stable macroeconomic fundamentals, ongoing institutional reforms, and favorable monetary policies will be positive for corporate earnings.
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Vietnam stock market aims for emerging status by 2025: Finance minister
By the end of 2024, the benchmark VN-Index reached 1,266.78 points, up 12.11% from 2023.
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Vietnam set to extend VAT cut for six months
This measure is expected to accelerate the recovery of production and business activities, which will ultimately benefit the state budget and the economy as a whole.
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Growth must put operational safety first, and channel credit to productive business sectors, priority areas, and growth-driving industries.
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