TechFlow news, October 4 — According to Reuters as cited by Cointelegraph, the State Bank of Vietnam (the country's central bank) expects credit growth to reach around 20% in 2025. As cryptocurrency adoption continues rising across the region, this move could lead liquidity into the global crypto market. Deputy Governor Pham Thanh Ha said Friday that further interest rate cuts are needed to support economic growth and mitigate uncertainties caused by increased U.S. tariffs.
As part of a broader technology regulation initiative, the Vietnamese government legalized cryptocurrencies in June, categorizing them into virtual assets representing tokenized real-world products and crypto assets such as Bitcoin and Ether. However, under new cryptocurrency regulations and its five-year sandbox pilot program launched in September, the government has banned the issuance of on-chain fiat-backed assets, including stablecoins and securities.
