International tourists arriving in Thailand from 18/8 can exchange cryptocurrency for baht to pay for tourism services, in a move to stimulate tourism.
The Ministry of Finance has proposed that the International Finance Center in Da Nang be used for controlled testing of new models like digital assets and cryptocurrencies, alongside the establishment of new trading platforms.
More than one cryptocurrency exchange will be piloted to foster competition, but the number will be limited due to the novelty of the field, according to the deputy minister of finance.
Digital assets with large capitalization, good liquidity, and a large investor community in Vietnam could be prioritized for listing after exchanges are licensed, according to experts.
The draft resolution on piloting the digital asset market is being finalized and is expected to be submitted to the government in August, according to To Tran Hoa, deputy head of the Securities Market Development Department.
On 18/7, US President Donald Trump signed the Genius Act into law, regulating stablecoins, a type of cryptocurrency pegged to the value of fiat currencies.
The cryptocurrency industry witnessed a new turning point as the US House of Representatives passed bills to regulate stablecoins and create a legal framework for the entire industry.
The leader of the world's largest cryptocurrency exchange predicts young Vietnamese will choose crypto as their main investment channel once trading is piloted.
With Bitcoin hitting record highs, analysts anticipate further gains, with some predicting the cryptocurrency could reach $200,000 by the end of the year.
Bitcoin's fall below $100,000 triggered a decline in other cryptocurrencies, leading to the liquidation of over $1.03 billion in leveraged positions in the derivatives market.
