Authorities of Laos allowed several companies to settle with cryptocurrency

According to the office of the Prime Minister of Laos, six companies in the country have been granted the right to use cryptocurrency.  Interaction with it is organized in an experimental mode and is possible both in the form of extraction and sale.  Among those who received permission to trade in cryptocurrency, there are four construction companies, an IT company and a national bank.

What is more, the government of country ordered to develop rules for the use of cryptocurrency in the country.  It is assumed that several departments, including the Ministry of Finance and the National Bank, will take up the work on the document.

The results of the activity are planned to be discussed in mid-September - then the question of the further fate of the use of cryptocurrency in the republic will be decided.

At the same time, Laos was not the first country to adopt new forms of settlement.  In early September, the official use of bitcoin was announced in El Salvador.  The authorities believe that such a measure will give the national economy a powerful impetus for development.

However, this optimism was not shared by the residents of the country, who actively opposed the introduction of bitcoin.  Protesters expressed fears of increased corruption and the receipt of pensions in an unstable currency.

Concerns were also expressed by the International Monetary Fund, which indicated the risks of price destabilization in the country and the impossibility of combating both money laundering and the financing of terrorist activities.