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Laos legalizes crypto trading and mining to deal with Covid-19

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To overcome the impact of Covid-19 and develop new sources of income, the Lao government has legalized mining and trading of cryptocurrencies.

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To overcome the impact of Covid-19 and develop new sources of income, the Lao government has legalized mining and trading of cryptocurrencies.

According to the Lao Prime Minister's office, six companies, including a construction company and a bank, are authorized to trade cryptocurrencies and mining operations on Ethereum, Bitcoin and Litecoin. The government will then work with the Bank of Laos and lectricité du Laos, the national powerhouse, to organize these activities, according to the Financial Times.

To overcome the impact of Covid-19 and develop new sources of income, the Lao government has legalized mining and trading of cryptocurrencies. According to the Lao Prime Minister's office, six companies, including a construction company and a bank, are authorized to trade cryptocurrencies and mining operations on Ethereum, Bitcoin and Litecoin. The government will then work with the Bank of Laos and lectricité du Laos, the national powerhouse, to organize these activities, according to the Financial Times.

Laos could also try to use China's recent crackdown on cryptocurrencies attracted some discarded Chinese miners.

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