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

1. Fiat Currency Channel Game: The draft allows licensed exchanges to enable direct trading of the Vietnamese Dong (currently, only 5 platforms that hold 17% of the market share qualify), but requires freezing 50% of crypto assets as reserves. As a result, the USDT over-the-counter premium in Vietnam's largest OTC market, the Ho Chi Minh City money exchange network, has reached 8.3%.