Topic: Vietnam Becomes Latest Country to Turn to Crypto - page 6. (Read 851 times)
When I saw the title, I was sure that this was another piece of fake news. And I was not disappointed. The Vietnamese government is proposing to create a Central Bank Digital Currency (CBDC), similar to the digital Yuan (e-CNY) of China. It is just a digital version of the national currency (Vietnamese Dong ₫). And actually I am worried that the government's attitude towards proper cryptocurrency may become even more hostile. This is what happened in China, after they listed the CBDC shitcoin. The Chinese government now want to eradicate the competition, by banning BTC.
There will be more and more countries accepting Bitcoin in the future, which is beyond doubt. Bitcoin is not controlled by individuals, organizations, or nations, and no individual, organization, or nation can destroy it. To be honest, many countries should thank Bitcoin because Bitcoin offers them another possibility such as El Salvador. When the domestic fiat currency loses trust, if there is no Bitcoin, many countries will be forced to use US dollars for daily transactions, which is not good. When the currency of a country is the U.S. dollar, the entire economy of that country will inevitably be affected by the United States. Bitcoin provides them with another option. When the volatility of its fiat is even greater than that of Bitcoin, the disadvantage of Bitcoin as a fiat does not exist.
I originally thought that Bitcoin's bull market is an institutional bull, but now it may be a country bull.
I originally thought that Bitcoin's bull market is an institutional bull, but now it may be a country bull.
Vietnam will soon enjoy cryptos wonders and just like El Salvador, it can be one of the countries that open ups bitcoin to the world. It may not be a huge country but a country's decision would make a huge impact on other country's decision making. Let us hope that things would work out well for Vietnam so that we can boast of crypto more in the world and the same way may happen in El Salvador so let us stay tuned and see if it will be a success in the long run.
Good news, they've banned it once and now they've turned into adopting it. This is why if most countries don't have a taste of bitcoin, they will likely not understand it and end up banning it. But since they've opened the idea of learning about it, here they are, making their own crypto and this is also a signal that bitcoin and other cryptocurrencies are welcome there. And with this news, it's likely that Vietnam can also be one of the crypto havens in Asia. It is going to welcome a lot of crypto startups if they want to have another base somewhere in Asia.
According to a July 4 report by The Phnom Penh Post, Vietnam's Prime Minister Pham Minh Chinh has called on the country's central bank to pilot a blockchain-based cryptocurrency over the next two years. Set up.
The initiative is part of the Prime Minister's e-government development strategy.
Chineh, the 62-year-old leader of the country's main communist party, called digital money "an inevitable trend." Apart from crypto, Vietnam will also focus on implementing such advanced technologies as big data, artificial intelligence, and augmented reality.
In May, the Vietnam Ministry of Finance set up a research team tasked with reviewing cryptocurrency regulations.
Earlier in 2017, Vietnam imposed a ban on Bitcoin payments.
Source: https://u.today/vietnam-becomes-latest-country-to-turn-to-crypto
The initiative is part of the Prime Minister's e-government development strategy.
Chineh, the 62-year-old leader of the country's main communist party, called digital money "an inevitable trend." Apart from crypto, Vietnam will also focus on implementing such advanced technologies as big data, artificial intelligence, and augmented reality.
In May, the Vietnam Ministry of Finance set up a research team tasked with reviewing cryptocurrency regulations.
Earlier in 2017, Vietnam imposed a ban on Bitcoin payments.
Source: https://u.today/vietnam-becomes-latest-country-to-turn-to-crypto
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