The Central Bank of Laos has issued a warning warning in which it warns citizens against the use, purchase and sale of digital currencies.

The document notes that cryptocurrency transactions in Laos are illegal. Previously, the regulator prohibited financial institutions from dealing with digital currencies, including investing in this type of assets.

The main problem with cryptocurrencies is the anonymity of both the sender and the recipient of the funds, which, according to the bank, increases the risk of their use for money laundering. In addition, the authorities do not have an up-to-date security system to protect the owners of digital currencies from fraud.

Interestingly, due to the low level of technology development in Laos, only a small part of the population uses cryptocurrencies - even 20% of the population has access to the Internet.

It should be noted that earlier there was information about a possible complete ban on cryptocurrencies in India, but cryptocurrency traders did not pay attention to these rumors. In addition, American Congressman Brad Sherman recently called for a ban on cryptocurrencies.