"[...]all accounts without biometric data will be closed to prevent scams and fraud. After seven years of promoting non-cash payments, we are moving toward real efficiency."

There you have it.. "Scams" and "frauds", "Transparency" for thee but not for all. I wonder if authorities will just seize money at this point.

You cannot escape your own and foreign governments at this point of human development. You can also not escape tech bullshit complicating our lifes.

▲ SapporoChris 3 days ago | parent | next [-]

The announcement was made on June 2nd. The account closures scheduled to begin on September 1st. It doesn't look like a seizure. Accounts are given about 60 days to address the problem. "According to Mr. Tuan, unverified accounts may be inactive accounts, abandoned accounts, or accounts with signs of fraud that have been opened widely in the past and are no longer able to be legalized. "

"the whole country had 200 million bank accounts, but after the State Bank required biometric authentication, the number of "live" accounts remaining was 113 million personal account" The whole country has around around 101.6 million people.

Personally I don't like the idea of a cashless society, but I don't see the Vietnam government doing anything illegal here.

	▲	csomar 3 days ago \| parent [-]
		My country is giving 10 years and I consider it theft. 60 days, if true, is plain day robbery. I wonder if it is just a freeze after 60 days but you can still recover the balance?

▲ staplers 3 days ago | parent | prev | next [-]

  You cannot escape your own and foreign governments at this point

I hate to be that guy but bitcoin exists for exactly this purpose. For all its faults it's a global transparent ledger without censorship.

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csomar 3 days ago | parent | next [-]

These governments couldn’t tax properly before (which is why they had import tariffs) and now they found a way around it. Make digital payments cheap and easy to onboard everybody, the introduce taxation as you have a hostage economy. It didn’t work quite well for indonesia (people riot tax increases). We’ll see how it pans out for Vietnam.

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piltdownman 3 days ago | parent | prev [-]

Until you try and off-ramp to fiat. Then you hit the same problem.

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akimbostrawman 3 days ago | parent [-]

That's why you use a actual fungible, private and censorship resistant currency like Monero

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piltdownman 3 days ago | parent [-]

Like Monero, fiat currency has no intrinsic value but derives its value from popular decree and public trust in its stability. The difference is that fiat is legal tender, and people are obligated to accept it under civil and criminal legislation. No one is obliged to accept Monero in payment, or for the settlement of debts public or private.

To date, Cryptocurrency has only ever constituted legal tender in two countries - El Salvador and the Central African Republic - and El Salvador revoked their BTC legal tender law.

	▲	akimbostrawman 3 days ago \| parent [-]
		>value from popular decree and public trust There is very much a third way it can gain value and that is features. I and many other value mass acceptance below anonymity, privacy and decentralization. There is a small but steadily growing community of people accepting monero https://monerica.com There is always the way to swap them for other coins like bitcoin with all there drawbacks.

▲ cindyllm 3 days ago | parent | prev | next [-]

[dead]

▲ mrheosuper 3 days ago | parent | prev [-]

Funny, because Scamming and frauds in my experience, does not drop at all.