Vietnam's central bank has enforced laws that prohibit the issuance and usage of bitcoin as legal tender in the country.

The State Bank of Vietnam (SBV), Vietnam's central bank, has outlawed bitcoin as a legal means of payment after refusing to include the cryptocurrency among non-cash payment methods approved by the authority.

As reported by CCN in October, recently updated legal frameworks for payment instruments that recognize checks, payment orders and bank cards (credit and debit) as non-cash payments did not include cryptocurrencies. As a consequence, bitcoin is seen by law as an illegal payment instrument by default.

The central bank's public notice also underlined the very real notion of prosecuting adopters who engage in issuing, providing or using bitcoin and other cryptocurrencies. At the turn of the year, the threat of prosecution is now a reality.