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The State Bank of Vietnam has declared that the issuance, supply and use of bitcoin and other similar virtual currency is illegal as a mean of payment and subject to punishment ranging from 150 million to 200 million VND, [134] but the government does not ban bitcoin trading as a virtual goods or assets.
At least one study has shown that broad generalizations about the use of bitcoin in illicit finance are significantly overstated and that blockchain analysis is an effective crime fighting and intelligence gathering tool. [164] While some countries have explicitly allowed their use and trade, [165] others have banned
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The international cryptocurrency community was largely supportive of the law, [38] which they believed could lead to a greater acceptance of cryptocurrency by states and central banks. [39] [40] Cryptocurrency advocates on Twitter and Instagram shared videos of people using bitcoin to make purchases at chains like Starbucks, Pizza Hut and ...
In February 2018, the price crashed after China imposed a complete ban on bitcoin trading. [38] The percentage of bitcoin trading in the Chinese renminbi fell from over 90% in September 2017 to less than 1% in June 2018. [39] During the same year, bitcoin prices were negatively affected by several hacks or thefts from cryptocurrency exchanges. [40]
While some cryptocurrencies serve specific purposes, many people use them for speculation. Most people trade coins in hopes of profiting from price swings rather than for any underlying fundamentals.
While crypto appears to be a long way from getting stamped as a currency by Congress, it hasn't stopped the momentum behind the bullish trade in various digital assets. Bitcoin, the most popular ...
According to Chainalysis, Europe's growth was largely driven by so-called "whales [23]", large institutional investors shifting enormous sums of cryptocurrency. [24] [a] According to Chainalysis, Europe has the world's largest crypto economy, collecting $1 trillion in the previous year, or 25% of all crypto activity worldwide.