Vietnamese PM Says Crypto Industry Needs to Be Regulated

The Prime Minister of Vietnam has called for regulation of the cryptocurrency industry.

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Lawmakers are urging the country’s prime minister to clarify his stance on Crypto assets.

Vietnam PM calls for regulation

Vietnamese Prime Minister Pham Minh Chin called for regulation of the cryptocurrency industry at a conference.

Chinh said he was impatient with virtual assets not being recognized, but despite this, people continued to trade cryptocurrencies.

According to the country’s local newspaper VnExpress, the prime minister quit cryptocurrencies while discussing upcoming changes to anti-money laundering laws.

Lawmakers continue to press the prime minister, central bank and justice minister to clarify their stance on Crypto assets and blockchain technology.

National Assembly representative Duong Van Phuoc argued last month that virtual assets should be included in the bill. Furthermore, he claims that Crypto assets are used by gambling and money laundering gangs.

Huy Nguyen, vice-chairman of the Vietnam Blockchain Association (VBA), said that Crypto assets are in a very strict area in Vietnam’s regulations.

Last year, the Vietnamese government directed the country’s central bank to launch a cryptocurrency pilot program.

Source of information: Compiled from COINKOLIK by 0x information.The copyright belongs to the author and may not be reproduced without permission

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