#VietnamCryptoPolicy *Vietnam Legalizes Cryptocurrencies: State Hype or a New Scheme to Shear Sheep?**

Vietnam, known for its strict control over finances, unexpectedly opens its doors to cryptocurrencies. At first glance, this seems like a progressive step, but a deeper dive reveals that the government has simply found a new way to monetize gullible citizens.

The crypto market is an ideal tool for the state. By legalizing it, the authorities gain:

1. Taxation — every transaction is now accountable, meaning they can take a cut from 'decentralized' operations.

2. **Control** — under the guise of regulation, KYC requirements are introduced, turning anonymous assets into transparent ones.

3. Capital outflow — instead of saving in dollars, people invest in volatile BTC, reducing pressure on the national currency.

But the main point is the speculative frenzy that the authorities can heat up or cool down at their discretion. When the exchange rate soars — crypto is 'doing great,' when it falls — 'it's the scammers' fault.' And citizens, like sheep being sheared, lose money either on bubbles or on bans.

Conclusion: Vietnam is no exception. States are increasingly using crypto as a financial pump.