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.