Vietnam’s proposed digital assets have the ability to reduce fraud in the country’s crypto space once passed in the classicization structure.
This is the position of Fan ứC Tung, President of Vietnam Blockchain Association, who revealed in an interview Vietnam News The association recently received reports of $ 100 million crypto fraud to target Vietnamese investors. According to Tung, criminals continued to face accountability in Vietnam due to the “policy gray zone” of the country about the legal status of cryptocurrency and digital assets.
On 22 October, Vietnam began an ambitious national blockchain strategy with the target set as a leader in blockchain technology across Asia by 2030. Tung says criminal exploitation opportunities.
Vietnamese citizens are among Asia’s most active crypto investors, which estimates $ 105 billion for blockchain-related capital flow 2023–2024. Estimated 17 million Vietnamese people use cryptocurrency, collectively earns $ 1.2 billion profits from Crypto investment in 2023 – despite these impressive data, the US and the UK finished third in the world level, Tung’s argument Is that lack of regulator clarity allows bad actors to operate through entities. Registered in offshore courts, enforcement was made difficult.
In December, the police in Hanoi arrested eight suspects involved in a crypto investment scam, who finally sold fake tokens to the victims, eventually cheating them over $ 1 million. A few days later in Dong Nai province, 4 were suspects Arrested Police lured the victims to buy a useless memecoin called ‘Bincoin’, after the police cheated victims of more than $ 150,000 in a crypto mining scam.
According to Tung, the draft law, which has been temporarily set to be passed in Q2 2025, a legal for consumer protection and dispute resolve, addressing issues like Money Laundering and Illegal Finance related to Cryptocurrency in Vietnam, a legal for consumer protection and dispute resolution. Will install the structure.
