Vietnam Will Develop a Legal Framework for Digital Currencies

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The Vietnamese authorities have periodically appealed to citizens with an appeal not to invest in cryptocurrencies over the past few years.

On the contrary, the interest this type of assets in the country continues to grow steadily, and officials can no longer ignore this trend. As a result, local media Vietnamnet has said that they have decided to start legalizing the crypto industry.

The Deputy Prime Minister of Vietnam has instructed three ministries (the Ministry of Finance, the Ministry of Justice and the Ministry of Information) to work on a draft law designed to protect crypto investors and ensure transparency in transactions with digital assets.

The central bank of the country will also develop the regulatory framework. According to the authorities, the legislation will be based on the principles outlined by the authorities in August 2017.

The country is changing its strategy and is trying to become a center for the development of crypto business.