Vietnam's Policy on Digital Currencies
The Vietnamese government does not recognize cryptocurrencies as legal tender or a legitimate means of payment since 2021
The use of Bitcoin and Ethereum in daily commercial transactions is officially banned
Nevertheless, authorities allow the trading of digital currencies as an investment asset without full regulatory protection
Local exchange platforms are subject to the oversight of the State Bank and the Ministry of Finance's directives
The government is considering a new legislative framework that keeps pace with global market developments
The amended 2024 Securities Law includes potential provisions for digital assets
Despite the restrictions, Vietnamese blockchain communities thrive and attract significant tech investments
Vietnam is showing an increasing awareness of the importance of balancing innovation with financial risk management
The Vietnamese market remains active, with expectations for regulatory policy developments in the coming years
This dynamic reflects broader economic shifts in Southeast Asia towards digitization
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