Laos has authorised the mining and trading of cryptocurrencies, in a policy shift by the debt-laden south-east Asian nation that positions it to profit from the crackdown on digital currency mining in China.
Analysts said the move was a logical step for the landlocked, communist-ruled country of 7m, which produces a surplus of hydroelectric power, but some warned that criminal gangs could seek to profit from the trade.
The crypto push marks an about-face after the country’s central bank last month warned banks, companies and people against using cryptocurrencies.
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