Vietnam has once again formulated a cryptocurrency policy! | Author: Dwayne D’cunha | The Capital | July 2021
Although it is strictly prohibited to create and provide tokens, it is legal to own, trade, and invest in cryptocurrencies.The Ministry of Finance has Established A group researching cryptocurrencies earlier this year. It will study the impact of digital currencies on the economy and formulate regulations around them. In addition to monitoring the volatility of the market, other altcoins with higher stability and longevity are also considered. The country is also very aware of the benefits of taxing the services it provides.
Vietnam also witnessed The rise of digital payment systems. Part of the reason is that most people own digital currencies. Although the use is very limited, because there is no policy to allow such currencies to flourish.
New Prime Minister of Vietnam Fan Mingzheng It is seeking to return Vietnam to the encryption industry.He still has Ask the central bank Take steps to build digital currencies and take time to understand them.Obviously, the country may be investigating CBDCVietnam also hopes to become a more competitive country by formulating strong policies ahead of other countries and preparing for an economy supported by digital currencies. The country also recognizes the impact that countries will have when more central banks begin to develop their own digital currencies.