<span style="font-weight: 400">Following the footsteps of <a href="https://www.cryptoknowmics.com/news/looking-back-on-el-salvadors-bitcoin-adoption-6-months-later/">El Salvador</a>, Vietnam aspires to enter the crypto market as well. Reportedly, the Vietnamese government with the help of the Central Bank is creating a legal framework for cryptocurrency. </span>

https://twitter.com/WatcherGuru/status/1508623107149471746
<h2><span style="font-weight: 400">Here's What The Vietnamese Government Did</span></h2>
<span style="font-weight: 400">The Deputy Prime Minister of Vietnam Le Minh Khai directed three ministries to work with the Central Bank, State Bank, and other bodies to build a legalized framework. The three ministries are Finance, Justice, and Information &amp; Communications. </span>

<span style="font-weight: 400">The Ministry of Finance is tasked with the prime duty to reach an agreement with other regulatory bodies and the Central Bank. Alongside the amendment, the Ministry of Finance is also required to supplement and promote cryptocurrency. </span>
<h2><span style="font-weight: 400">Vietnam Has Always Been Pro Crypto</span></h2>
<span style="font-weight: 400">The Vietnamese government has has its interest in crypto piqued since 2017. In 2017, the Prime Minister approved o a strategy to create a legal framework for digital assets and currencies. </span>

<span style="font-weight: 400">The ideas generated for cryptocurrency were from all over Vietnam. However, it did not reach any conclusion due to differences in opinion. </span>

<span style="font-weight: 400">However, a survey states that over 5.9 million citizens or 6.1 percent of the population of Vietnam currently own cryptocurrency. Besides that, it is also quite known that Vietnamese respondents had the highest number of crypto ownership.</span>

Vietnam Government Creates Framework to Legalize Cryptocurrency

The Vietnamese government with the help of Central Digital Bank has decided to move forward by legalizing a framework for cryptocurrency.

Priyanka is an active crypto enthusiast. Having graduated with a BA in Journalism and Mass Communication, she is a passionate content writer with a strong understanding of financial content. She has been writing on crypto and blockchain-related topics for the last three years and is an active trader.

Vietnam Government Creates Framework to Legalize Cryptocurrency

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