The Finance Ministry of Vietnam is ready to propose a legal structure for digital assets and cryptocurrency this month.
The part of this structure includes a pilot program for a state-lisse received digital currency exchange, Vice Minister Guyen Duke Chi announced at a government press conference, According To local media.
The step has come as Prime Minister Fam Minh Chinch, urging regulators to establish a clear guideline for the management of digital assets.
The Finance Ministry and the State Bank of Vietnam are working on the framework, which aims to balance innovation with investor protection.
Chi said that the proposed exchange would allow individuals and businesses to trade digital assets under state supervision, ensure legal protection and reduce risks. Additionally, the government is searching for rules to allow Vietnamese enterprises to issue virtual assets as a means of financial mobilization.
Vietnam currently leads to lack of formal legal definitions for digital assets and cryptocurrency, leading to many blockchain businesses to register abroad.
The absence of clear rules has resulted in monitoring tax revenue and limited domestic market.
Vietnam, according to Channelis saw Digital asset in 2023 ranks $ 120 billion in inflices and digital assets to top three countries globally for ownership, capturing 21% of its population Crypto. The proposed regulatory structure aims to exploit this growing area, reducing risks.
