Vietnam Becomes Latest Country to Turn to Crypto

According to a July 4 report by The Phnom Penh Post, Vietnamese Prime Minister Pham Minh Chinh asked the country’s central bank to pilot a blockchain-based cryptocurrency over the next two years.

The initiative is part of the PM’s e-Government development strategy.

Chinh—the 62-year-old leader of the country’s leading Communist Party—believes that digital money is “an inventible trend.” Apart from crypto, Vietnam will also focus on implementing such cutting-edge technologies as big data, artificial intelligence, and augmented reality.

In May, Vietnam’s Ministry of Finance created a research group tasked with studying cryptocurrency regulations.

Vietnam imposed a ban on Bitcoin payments all the way back in 2017.

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