#VietnamCryptoPolicy

What is happening in the crypto world? For example, in Asia, Vietnam has taken significant steps in the regulation of cryptocurrencies, marking a milestone in the adoption of digital assets.

Starting January 1 of next year, a new law will come into effect that recognizes cryptocurrencies and requires cybersecurity measures and anti-money laundering provisions. This legislation makes Vietnam the first country in the world to enact a specific law dedicated to the digital technology industry. Could it become a trend?

Here is a summary of the policy and the future of cryptocurrencies in Vietnam:

Current and Future Regulatory Framework:

Legal Recognition: Vietnam has legalized cryptocurrencies through its new Digital Technology Industry Law, which will come into effect in 2026.

No prohibition, but not legal tender: Although cryptocurrencies were not prohibited, they were also not considered a legal means of payment nor were they protected by law as an asset in the past.

Now, let's see if it applies what will happen from then on?

Considering at this moment it may be that:

1° Other countries follow its example and adopt similar legislation for cryptocurrencies.

2° They launch their own cryptocurrencies, bonds, ETFs, etc.