If gold isn't money, why did Vietnam just outlaw using it as such?

越南政府開始了........

我們手上的廢鐵,要好好把"握"

 

 

Submitted by cpowell on Sun, 2012-04-08 04:02. Section: Daily Dispatches

Restrictions on Bullion-Related Businesses

By P. Thao and P. Trung
Saigon Giai Phong (Liberation)
Ho Chi Minh City, Vietnam
Thursday, April 5, 2012

http://www.saigon-gpdaily.com.vn/Law/2012/4/100611/

As per a decree issued by the Prime Minister's office on April 3, gold has been banned as a medium for exchange, along with seven bullion-related activities that will take effect from May 25.

The decree prohibits use of gold as a medium of exchange; manufacturing gold jewellery without a licence from the central bank; trading gold without a licence; and conducting any other gold-related businesses without the approval of the prime minister and the central bank. 

In addition, licensed gold enterprises must satisfy requirements such as having registered capital of 100 billion Vietnamese dong; having operated in gold trading for two years; paying tax above VND500 million; and having at least a branch in three central provinces and cities.