Vietnam – This March, the Ministry of Finance will collaborate with other ministries and relevant agencies to establish regulations allowing businesses to issue virtual assets for financial resource mobilization, supporting production and business activities.

Deputy Minister of Finance’s Perspective

At the Government press conference on March 5, Deputy Minister of Finance Nguyen Duc Chi stated that managing digital assets and cryptocurrencies is a new and complex issue, not only in Vietnam but globally. Vietnam needs to develop a transparent legal framework to foster economic and social development and align with international trends.

Pilot Cryptocurrency Exchange

The Ministry of Finance will propose a government resolution to pilot a cryptocurrency exchange. This will provide investors and organizations with a legal trading platform, ensuring their rights are protected by the State.

Issuing Virtual Assets for Capital Mobilization

The Ministry of Finance will formulate regulations allowing Vietnamese enterprises to issue virtual assets to raise capital for business activities and organizational growth. This initiative will not only stimulate the economy but also help Vietnam stay aligned with global trends.

Breakthrough Policies for Private Enterprises

The Ministry of Finance is working closely with associations and major enterprises to gather input and formulate preferential policies that support private businesses in achieving robust growth and expanding to regional and global markets.

Risk Management and Investor Protection

Effective management and supervision of digital assets will help safeguard monetary sovereignty, minimize tax evasion risks, and prevent money laundering, fraud, and terrorism financing. The cryptocurrency exchange will be operated by state-licensed entities to ensure the legal rights of participating organizations and individuals.

However, it should be noted that the potential to attract foreign investment will depend on various factors, including the content of the legal framework and the management and operational model of the exchange, said Ms. Lynn Hoang.

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