#VietnamCryptoPolicy

Vietnam will begin experimenting with cryptocurrency trading. Deputy Finance Minister Nguyen Duc Chi told reporters on Wednesday that the government has recognized the global trend in managing cryptocurrencies to support economic development, and therefore ordered the drafting of regulations regarding cryptocurrencies and digital assets.

His ministry is collaborating with the State Bank of Vietnam to draft the regulations required by Prime Minister Pham Minh Chinh.

The cryptocurrency and digital asset trading platform will be organized and operated by state-licensed entities. Chi confirmed that this means the state will protect the legitimate rights and interests of investors.

The Ministry of Finance has been tasked with creating regulations that enable Vietnamese companies to issue virtual assets to raise financial resources. He stated that this would help companies keep pace with global trends in virtual asset ownership, contribute to economic development, and support growth objectives.

Cryptocurrencies such as Bitcoin, Ethereum, and others are considered popular virtual assets. However, Vietnam has not yet defined a specific definition for virtual currencies and digital assets.