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.
The DeFi market continues to heat up, with Alameda Research identifying Southeast Asia as a potential growth hub.
Alameda Research invests $4M in Vietnamese DeFi project
Vietnam’s Ministry of Finance reminded the public that cryptocurrencies have no legal framework in the country.
Vietnam’s finance ministry warns about crypto trading risks
Statista has found that one-in-three Nigerians held or used crypto assets during 2020.
Nigeria and South East Asia led global crypto adoption in 2020
HDBank has processed its first L/C transactions since joining the Contour platform for international trade.
Vietnamese bank issues its first letters of credit on the blockchain
Electronics giant LG is supporting a new Vietnamese blockchain initiative through its IT and consulting subsidiary.
LG’s consulting arm joins KardiaChain mainnet validators
Vietnam’s government is adopting blockchain technology on a national level.
Vietnam’s ministry of education to record certifications on blockchain
Ukraine beats Russia, China and more in adoption metrics, according to new research from Chainalysis.
Ukraine, Russia and Venezuela are leading the world in crypto adoption: Chainalysis