On June 16, 2025, the State Bank of Vietnam released the 'Draft for the Management of the Virtual Asset Market', which is causing severe fluctuations in the cryptocurrency market. The core of its policy includes three sets of contradictory games:

1. Fiat Currency Channel Game: The draft allows licensed exchanges to enable direct trading of the Vietnamese Dong (currently, only five platforms, holding 17% of the market share, meet the requirements), but it requires freezing 50% of crypto assets as reserves. As a result, the USDT over-the-counter premium in Ho Chi Minh City's largest OTC market has reached 8.3%.