Vietnamese university FPT is intending to accept tuition fees in Bitcoin. Even though the central bank ban on using cryptocurrencies as means of payment.
Significantly, this private university will soon begin accepting bitcoin from foreign students. According to Dr. Lee Truong Tung, FPT University President who has shared the announcement on his Facebook page. He believes international students can evade strict currency controls in their own countries.
“Therefore, FPT decides to test by officially and concretely announcing the enrollment of foreign students to study in Vietnam made possible by using bitcoin as a means to pay tuition fees, [which would also] attract foreign students”.
According to the school official, intending to acceptance of bitcoin for research among its courses is a major move for FPT. Tung expects Bitcoin to help to strengthen numbers as the university finds a way to accept crypto assets. Although, the legal frameworks by the central bank ban bitcoin as a mean of payment.
“In principle, FPT can open a bitcoin account for students to transfer the bitcoin to the school online…Later on, when specific regulations are implements officially, both foreign and Vietnamese students can use [pay with] bitcoin”.
The State Bank of Vietnam (SBV), the country’s central bank, clarifies its position yesterday to confirm “the virtual currencies like bitcoin are illegal means of payment in Vietnam”, before effectual segregation “at the beginning use of bitcoin”.