The Bank of Laos has issued a warning to the public urging them to avoid trading cryptocurrencies or using them as a form of payment.
In the bank’s warning, Laotians are advised to read up on cryptos and cautioned against the purchase, sell, or trading of the digital assets.
In particular, Bitcoin, Ethereum, and Litecoin were singled out as “unregulated currencies” and called risky.
Despite the warning and lack of legislation regarding digital currencies in the country though, some in Laos are still trading cryptos and using them to make purchases.
As it stands in Laos, there are no laws outlawing crypto trading online.
Its neighbor Thailand recently passed legislation to legitimize the use of cryptocurrency in the country as well as much-needed regulations on initial coin offerings (ICOs).
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