Notice on prohibition of financial institutions within the country conducting business related to Cryptocurrency

Published by: Open Development Laos

Bank of the Lao PDR issued a notice on the prohibition of financial institutions from doing business related to CryptoCurrency including holding, doing business or engaging in the facilitation of financial transactions related to such currencies, such as: 1. Prohibit investing or trading in cryptocurrencies for the benefit of the currency 2. Prohibit the exchange of cryptocurrencies through various channels of its services; 3. It is forbidden to set up a trading center or as a medium for customers to enter into business; 3. Customers are not allowed to use any type of card as a credit card for purchases; 4. Do not give advice or advice to customers about investing or exchanging money.

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Notice on prohibition of financial institutions within the country conducting business related to Cryptocurrency

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Additional Info

Field	Value
Geographic area (spatial range)	Lao People's Democratic Republic
Document reference #	#382/CO
Issuing agency/parties	Bank of the Lao PDR
Language	Lao
Formal type of document	Notice
Topics	Banking and financial services policy and regulation
License	No license given
Copyright	No
Status	Signed and in effect
Adoption date/Enacted/Promulgation date/Signing date	October 30, 2018
Effective/Enforced Date	October 30, 2018
Publication reference	Notice on the prohibition of financial institutions within the country conducting business related to Cryptocurrency,#382/CO,30.10.2018.
Links to source	https://www.bol.gov.la/fileupload/14-05-2019_1557800175.pdf
Keywords	cryptocurrency,digital trade
Date uploaded	November 25, 2021, 09:25 (UTC)
Date modified	November 10, 2022, 08:15 (UTC)