HÀ NỘI — Việt Nam Competition Authority (VCA) has warned of fraud related to the trading of virtual currency and raising funds through a multi-level practice. VCA said that this type of multi-level trading had high risks, since it was easy to appropriate money from the participants. VCA said multi-level trading of any services was illegal according to the Law on Competition. Before participating in any multi-level trading, citizens must study the enterprises carefully and should stay away if the companies conduct multi-level trading of services, the authority said. Bitcoin multi-level trading has made an appearance in Việt Nam, in which investors spend a certain amount of money to participate and buy bitcoins.

Source: Viet Nam News September 15, 2016 09:22 UTC