#VietnamCryptoPolicy 🔒 In the past, many countries, such as Vietnam, India, and China, dealt with digital currencies with a degree of suspicion and caution, with some governments going so far as to criminalize their use as a means of payment or even possession by individuals and companies. These policies were driven by concerns related to 📉 price volatility, 💣 financing of illicit activities, and the weak ability to monitor financial flows outside traditional banking frameworks.

👮‍♂️ However, these countries were surprised, after years of bans, that a broad segment of their citizens had come to own digital assets like Bitcoin, Ethereum, and others. In some cases, these countries ranked highly in global cryptocurrency adoption rates, despite the strict restrictions and laws imposed on them.

⚖️ This reality prompted governments to reconsider their positions. Instead of continuing in futile confrontation, they began to adopt a more realistic and flexible approach based on regulating the market rather than suppressing it. Central banks launched sovereign digital currency (CBDC) projects, and local exchanges were allowed to operate under legal frameworks. Some governments even began to experiment with holding Bitcoin in their investment portfolios or using it as a financial hedge.

📊 Today, we are witnessing a radical shift in the way countries are dealing with digital currencies: from complete criminalization 🚫 to regulation.