#VietnamCryptoPolicy how Vietnam as a whole receives or can receive financial support from the cryptocurrency sector. Here are several key areas:
1️⃣ Inflow of foreign investments through crypto
Vietnam has become a popular place for blockchain startups and developers. Many international investors are investing in local crypto projects.
Example: projects like Axie Infinity, Kyber Network, Coin98 — all created by Vietnamese teams and received significant investment from abroad.
2️⃣ Money transfers (remittances)
Many Vietnamese work abroad and send money home. Cryptocurrencies are becoming a cheap and fast way to transfer funds without involving banks.
This reduces transaction costs and speeds up access to funds for families within the country.
3️⃣ Job growth in the blockchain sector
The development of crypto and blockchain companies creates jobs in IT, financial consulting, legal services, and marketing.
Vietnamese developers are highly valued in the international market.
4️⃣ Increase in tax revenues (prospectively)
While crypto assets are not fully regulated, the government may impose taxation on income from crypto assets, transactions, and ICOs/IEOs in the future.
5️⃣ Technological independence
The development of its own crypto industry could help Vietnam reduce dependence on Western financial institutions and create alternative sources of capital.
6️⃣ Government interest in CBDC
The Central Bank of Vietnam is exploring the possibility of creating its own digital currency (CBDC), which could strengthen financial infrastructure and enhance control over financial flows.
👉 An important nuance is that Vietnam's official policy is still quite cautious:
Cryptocurrencies are not recognized as legal tender;
Ownership of crypto is not prohibited, but officially it is outside the legal framework;
Mining is not prohibited, but it is under surveillance.