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Vietnam Becomes Latest Country to Turn to Crypto

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Sun, 07/04/2021 - 18:02
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Alex Dovbnya
The Vietnamese PM claims that the digitalization of money is an “inevitable trend”
Vietnam Becomes Latest Country to Turn to Crypto
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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.

Related
Bitcoin Bull Michael Saylor Compares Buying Dogecoin to Gambling in Vegas
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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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.