Lao central bank warns against cryptocurrency use

Last Updated: Mon, Sep 03, 2018 18:19 hrs
A view of Ducatus cafe, the first cashless cafe that accepts cryptocurrencies such as Bitcoin, on their opening day in Singapore

Vientiane: The Lao central bank has issued a notice warning the public to avoid falling victim to the use of cryptocurrency on account of the potential risks involved in its money laundering, funding of terrorism, its media reported on Monday.

The notice by the Bank of the Lao PDR (BOL) cautioned the public last week against the use of Bitcoin, Ethereum and Litecoin, and other unregulated currencies, Xinhua quoted a Vientiane Times report as saying.

It said that advertisements have appeared trying to lure people to purchase, sell and use cryptocurrencies in Laos.

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