Analysis
Governments in Asia are quickly researching or implementing CBDCs. What does this mean for the region’s overdependence on the U.S. dollar?
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Vietnam News
Vietnam is a socialist country in Southeast Asia with a population of 94.6 million and an area of 331 thousand kilometers. Vietnam has a strong socialist-oriented market economy. Vietnam is considered to be one of the fastest growing economies — in terms of nominal gross domestic product and GDP per capita — since its shift from a command to a mixed economy. It is also an attractive place for foreign investments and is a large agricultural exporter. Vietnam has no Bitcoin trading or holding regulations. Bitcoin in Vietnam is allowed to be used as a good or an asset. Vietnamese Bitcoin exchanges, such as Bitcoin Vietnam and VBTC, are working without any limitations. Also, Vietnam does not restrict Bitcoin mining but made it illegal to use as a means of payment as well as to issue other digital currencies for their usage as a means of payment.
- Research
When it comes to cryptocurrency transactions, the region of Central and Southern Asia and Oceania, or CSAO, is growing rapidly.
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One crypto mining rig seller in Vietnam has reportedly seen its sales triple in early September, with GPUs selling at premium prices.
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The report indicates that the adoption of crypto assets jumped 880% worldwide, with peer-to-peer platforms driving cryptocurrency usage in emerging economies.
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Financial product comparison website Finder.com has released its latest crypto report, where it evaluated adoption trends across 27 countries in Europe, Asia and the Americas.
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Vietnamese news outlets have reported that the country's prime minister, Phạm Minh Chính, has tasked the State Bank of Vietnam with studying and conducting a pilot for a digital currency.
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Chainalysis tracked total U.S. dollar gains made by Bitcoin investors in 2020. The country comparison was drawn from an analysis of web traffic on various cryptocurrency exchanges.
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A 17GB personal data leak reportedly sprung from the Pi Network mobile app.
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The DeFi market continues to heat up, with Alameda Research identifying Southeast Asia as a potential growth hub.
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Vietnam’s Ministry of Finance reminded the public that cryptocurrencies have no legal framework in the country.
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Statista has found that one-in-three Nigerians held or used crypto assets during 2020.
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HDBank has processed its first L/C transactions since joining the Contour platform for international trade.
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Electronics giant LG is supporting a new Vietnamese blockchain initiative through its IT and consulting subsidiary.
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Vietnam’s government is adopting blockchain technology on a national level.
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Ukraine beats Russia, China and more in adoption metrics, according to new research from Chainalysis.
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