Vietnamese Government Learn Cryptocurrency. UK Bans But Germany Evaluates Cryptocurrency Law.

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Vietnamese Government Learn Cryptocurrency. UK Bans But Germany Evaluates Cryptocurrency Law.

The Vietnamese government through the Vietnamese minister has mandated the country's Central Bank to study and test the implementation of cryptocurrencies, this places the State Bank of Vietnam as the first bank in a country to explore the practicality and functions of a Central Bank digital currency.

What this means is the Central Bank of digital cryptocurrency, the banks of those countries will test the cryptocurrency currency created on blockchain technology and the announcement also reveals that the country's banks will develop and implement a pilot from 2021 to 2023.

Of course this will help promote cashless payments and a more resilient digital government, Vietnam wants to develop and master blockchain-based cryptocurrencies, in other technologies that this government wants to exploit is virtual reality artificial intelligence especially in big-data.

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In this case it is hoped that this will facilitate significant breakthroughs and the right conditions for achieving digital governance, whereas in 2018 the country of Vietnam banned the use of Bitcoin as a means of payment, despite this space companies and individuals still retain their right to invest in cryptocurrencies independently. private after the ban.

The country also provides directives to credit institutions to strictly regulate the services provided for cryptocurrency activities, this restrictive order is to control activities related to money laundering and all its risks, apart from government measures there is no official regulatory framework for cryptocurrency exchanges. works in Vietnam.

Vietnam has started to move, has started to look to the future, technological development of cryptocurrencies because they know that later everyone will be side by side with crypto.

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A new law in Germany now allows nearly 4,000 institutional funds covering around 2 trillion Euro of assets under management to invest 20% of their portfolio in Bitcoin and other cryptocurrencies, the law came into effect on one July after Germany's Federal parliament approved the law on April 22 and the law has the potential to lead to an influx of crypto investors into Germany.

Germany has also revised the law to allow direct entry and investment into cryptocurrencies, because they know it will be very useful and have a big impact in the years to come, but this is a long-term investment, if for example you are a trader it is still not suitable for you. take advantage in the short term.

Furthermore and the negative news from the UK that has a direct impact on Binance, so there is one bank called Barclays telling its customers that it will stop payments, this British multinational bank has informed its customers and customers, that they do not want to facilitate payments made to cryptocurrency exchange.

Confirming reports from users over the past week and this customer has reported that Barclays multinational universal bank English, has blocked payments to cryptocurrency exchanges.

Over the past week or so the Financial Services giant has confirmed to its cardholders that debit or credit card payments to cryptocurrency exchanges will not be allowed until further notice.

Although the UK still allows its people to invest in crypto, so there is still support for cryptocurrencies, but specifically the banks there have banned and no longer relate to the digital currency.



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