#Vietnam Cryptocurrency Policy The "Draft for Managing the Virtual Asset Market" released by the State Bank of Vietnam in the early hours of June 16, 2025, is causing significant fluctuations in the cryptocurrency market. Its core policy includes three groups of contradictory games:
1. Fiat Currency Channel Game: The draft allows licensed exchanges to open direct trading with the Vietnamese Dong (currently only 5 platforms that hold 17% of the market share meet the conditions), but requires freezing 50% of cryptocurrency assets as reserves. As a result, the OTC market in Ho Chi Minh City, Vietnam's largest, has seen the USDT OTC premium reach 8.3%.
