📌 #StablecoinLaw – Why do we need laws for stablecoins?

Stablecoin – one of the most important “pieces” of the cryptocurrency ecosystem – is increasingly becoming a bridge between the blockchain world and traditional finance. However, rapid development also brings many risks, especially in the absence of a clear legal framework.

💸 What is a stablecoin?

It is a cryptocurrency designed to maintain a stable value, usually pegged to the USD (like USDT, USDC) or other assets like gold. They are commonly used for trading, quick money transfers, or storing value in the crypto world.

⚖️ Why do we need #StablecoinLaw?

• 🔐 Transparency and asset safety: Ensure that stablecoins truly have a 1:1 reserve, not “printing money” like the Terra/LUNA incident that caused a stir.

• 🏦 Protecting investors: If the issuer goes bankrupt or commits fraud, who will take responsibility? The law serves as a shield to protect users.

• 🌍 Stabilizing the financial system: When stablecoins are widely used for cross-border payments, they need to be regulated as part of the economy.

📚 Global trends:

• 🇺🇸 The U.S. is pushing forward the “Stablecoin Payment Act.”

• 🇪🇺 The EU has issued MiCA – strict regulations on “e-money tokens.”

• 🇯🇵 Japan requires that only qualified banks can issue stablecoins.

💡 What future awaits Vietnam?

Vietnam does not yet have specific laws on stablecoins, but is studying the establishment of a legal framework for digital assets. Promptly identifying and managing stablecoins will help mitigate risks while promoting financial innovation.

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#stablecoin #FintechVietnam #StablecoinLaw #CryptoRegulation