🇻🇳 Legalizing Crypto and the Future of the Crypto Industry in Vietnam
1/ According to Mr. Nguyễn Phương Tuấn, Deputy Head of the Committee on Science, Technology and Environment of the National Assembly, legalizing digital assets creates a legal basis for establishing playgrounds for digital assets, including the establishment of exchanges.
The Politburo has also agreed to the policy of building a financial center in Vietnam. Specifically, a comprehensive international financial center will be established in Ho Chi Minh City and a regional financial center in Da Nang.
=> This is an opportunity for Vietnam to pilot allowing the establishment of digital asset exchanges (which can initially be set up on a small scale).
=> Establishing exchanges will help authorities manage and collect taxes more easily. At the same time, it is also a way to filter out low-quality digital assets and prevent fraudulent activities.
2/ According to Mr. Phan Đức Trung, Permanent Vice President of the Vietnam Blockchain Association: Legalizing digital assets will also help Vietnam increase foreign investment attraction and bring back Vietnamese businesses that have had to register abroad to Vietnam.