bet88 comVietnam to pilot digital assets and cryptos trading

The Government News has quoted Deputy Minister of Finance Nguyen Duc Chi as reporting that a pilot program for fintech activities, including digital asset and cryptocurrency trading at financial centers will be submitted to the Prime Minister bet88 com this month.

According to the Deputy Minister, the Ministry of Finance was tasked to report the Government about a draft resolution on pilot digital asset and cryptocurrency trading bet88 com March.

Vietnam currently lacks a clear definition of virtual currencies and digital assets. Existing regulations only address the concept of electronic money tied to fiat currencies, such as prepaid bank cards and e-wallets.

Data from CoinGecko indicates that the global cryptocurrency market value peaked at nearly .3 trillion on November 14, 2024.

The flows of digital assets into Vietnam bet88 com 2023 reached 0 billion, as reported by market analysis organization Chainalysis.

Vietnam ranks among the top three countries globally bet88 com cryptocurrency ownership with 21 per cent of its population, only after the United Arab Emirates and the U.S.

Cryptocurrencies are not banned bet88 com Vietnam, but are not yet recognized as assets. The lack of a legal framework for these assets has led many businesses to register bet88 com Singapore or the U.S. before operating bet88 com Vietnam, which reduces the country's competitive advantage and results bet88 com tax revenue losses.

From a user perspective, the lack of transparency bet88 com this area increases transaction risks.