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Vietnam’s PM Mandates Central Bank to Study Crypto Implementation

Published 07/06/2021, 05:35 AM
Updated 07/06/2021, 06:00 AM
© Reuters.  Vietnam’s PM Mandates Central Bank to Study Crypto Implementation

  • Vietnam’s prime minister mandated its Central Bank to study and pilot crypto implementation.
  • The country plans on forming a digital Government through crypto adoption.
  • Vietnam’s Ministry of Finance set up a group to study virtual assets and crypto.

Phạm Minh Chính, Vietnam’s prime minister, mandated the country’s Central Bank to pilot and study the crypto implementation.

According to reports, the pilot implementation is currently under study and is expected to push cashless payments 2021-2023. Based on the PM’s Decision No 942/QĐ-TTg, Vietnam plans on forming a digital Government through crypto adoption.

In line with this, the country wants to develop and master blockchain-based cryptocurrency in its c...

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