Vietnam plans to establish a legal framework for cryptocurrency by the end of March

According to Foresight News, Decrypt cited local media reports that the Vietnamese government plans to launch a legal framework for digital assets by the end of March to promote economic growth. Prime Minister Ph ạ m Minh Ch í nh has signed Directive No. 05, requiring the Ministry of Finance (MOF) and the State Bank of Vietnam (SBV) to develop and submit cryptocurrency regulatory plans by the end of this month. This framework is expected to provide a clearer regulatory environment for cryptocurrency enterprises, helping them obtain financing and operate under a secure legal system. Currently, Vietnam has not officially recognized cryptocurrency assets, but the country ranks fifth in the 2024 Chainalysis Global Cryptocurrency Adoption Index. Data shows that the investment in the blockchain market flowing into Vietnam between 2023 and 2024 has exceeded 105 billion US dollars.