April 2021
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April 2021
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Vietnam studies legal framework for cryptocurrencies, report says

The ministry has set up a research group to study virtual assets and currencies and develop the legal framework for managing cryptocurrencies
By Goh Thean Eu   
April 8, 2021

Vietnam is looking into developing a legal framework to manage cryptocurrencies on stock exchanges, according to a local news report, quoting the Finance Ministry.

The ministry has set up a research group to study virtual assets and currencies and develop a legal framework for managing cryptocurrencies, the spokesperson says in the Viet Nam News report on April 6.

“Currently, there are no regulations about the issuance, trading and exchange of virtual assets nor regulations on an official agency to manage virtual assets. Thus, the trading of cryptocurrencies carry a lot of risks,” the ministry says.

Last month, Vietnam’s State Securities Commission advised investors to be cautious about investing in virtual assets, and warned companies and fund management companies against illegal issuance, trading and brokerage of virtual currencies.