This week, On Transmission 41, Theo Goodman talks with Dominik Weil from Bitcoin Vietnam and also co-founder of the Bitcoin Frankfurt Meetup. Bitcoin Vietnam opened two weeks after Mt. Gox closed in March 2013. Since the recent price increase over the last three weeks, Bitcoin Vietnam has seen its user base double.
What is the current status of bitcoin regulation in Vietnam? Bitcoin is completely unregulated in Vietnam. None of the government agencies see how it fits into their jurisdiction. The state bank says that bitcoin is not a currency so it’s not regulated, the ministry of trade says that it’s not a good or service, so they simply don’t regulate it.
In 2014 the state was thinking about regulation, but after the hype of Mt. Gox they didn’t put it high on their priority list.
We started Cash2VN which uses the bitcoin network to send money to Vietnam. We charge a 1% trade fee to change into Bitcoin and a flat fee of $2.00 for every transaction. You can send money to any bank in the country and you can send money to your ID without having an account with the bank.
Transmission is a weekly podcast featuring bitcoin, altcoins, and blockchain technology broadcasting live every Sunday at 3PM EST. The Spice Must Flow.