TechFlow News, according to VnExpress, a Vietnamese official from the Ministry of Justice stated that cryptocurrency is not banned in Vietnam, but it is necessary to establish a legal framework to ensure its healthy development and mitigate risks.
The government has instructed the State Bank of Vietnam to study cryptocurrencies and virtual assets to prevent their use in money laundering, and has tasked the Ministry of Finance with developing a legal framework by May 2025.
According to a report by U.S.-based cryptocurrency data provider Chainalysis, Vietnam ranked third globally last year in cryptocurrency gains—after only the United States and the United Kingdom—with profits totaling $1.18 billion.
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