17.09.2021 News

Laos Allows Cryptocurrency

Laos has begun to gradually legalize cryptocurrency. The government has allowed six companies to legally use the digital currency.

The Laotian Times listed these companies in their article: “Laotian Times: Wap Data Technology Laos, Phongsubthavy Road & Bridge Construction Co., Sisaket Construction Company Limited, Boupha Road-Bridge Design Survey Co., Ltd., Joint Development Bank and Phousy Group”.

The Lao government has instructed the ministries to work with the Central Bank to develop a plan and rules that will regulate the cryptocurrency.

Companies have the right to mine and trade cryptocurrency, but within the framework of the law. The government will monitor the actions of firms to ensure that they are unable to carry out money laundering.

At the same time, in August, a warning was issued from the Central Bank that cryptocurrency is not yet regulated by Lao legislation and citizens need to be careful.

On September 16-17, the government held a meeting to discuss cryptocurrency. No comment has been received yet. We will follow the news!

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