cryptocurrency

The Ministry of Finance has submitted a draft resolution to the Government proposing a pilot programme for the issue and trading of cryptocurrencies and digital assets, alongside a mechanism for coordinated oversight involving three key agencies including the Ministry of Finance, the Ministry of Public Security and the State Bank of Vietnam.

A pilot program for fintech activities, including digital asset and cryptocurrency trading at financial centers will be submitted to the Prime Minister this March, said Deputy Minister of Finance Nguyen Duc Chi.

Vietnam ranked fifth globally in the 2024 Global Crypto Adoption Index, according to the US blockchain analysis firm Chainalysis.

Google searches for “cryptocurrency” increased sharply in recent years as Vietnamese sought investment channels, especially during the pandemic with social distancing measures in place, which forced people to stay home.