The underground flow of hundreds of billions of US dollars into Vietnam’s cryptocurrency and digital asset market is set to be legalised as the country prepares to launch a series of official trading platforms, which are expected to serve as attractive investment channels, potential fundraising avenues for businesses.

VOV.VN - The police in northern Hung Yen province have dismantled a large-scale cryptocurrency fraud ring operating via a fake trading platform called “Toptrade1,” arresting nine suspects and freezing 22 related bank accounts.

VOV.VN - Prime Minister Pham Minh Chinh urged Korean conglomerates to expand their investment and operations in Vietnam during his meeting with leaders of the two Korean groups – Dunamu and Dana - in Hanoi on July 29.

Domestic securities firms, investment funds, and prominent technology companies both in and outside Vietnam are actively positioning themselves to tap into the country’s growing digital asset and cryptocurrency market.

Da Nang has received a proposal to pilot the use of the cryptocurrency Tether (USDT) for transactions, targeting international tourists.

VOV.VN - Relevant ministries and agencies of Vietnam are expected to study the classification and assign specific HS codes for Bitcoin mining machines in an attempt to tighten the import of such machines into the country.

The Ministry of Finance has submitted to the Government a draft decree on implementing a pilot programme for the issuing and trading of digital assets.

VOV.VN - Vietnam will pilot the establishment of a cryptocurrency exchange as part of its efforts to develop and manage the digital currency market in an organized manner, said Deputy Minister of Finance Nguyen Duc Chi at a government press conference in Hanoi on March 5.

Building legal frameworks for digital assets is an urgent need to effectively manage this expanding market, according to experts.

VOV.VN - The Criminal Police Department of Ha Tinh province, in coordination with Philippine authorities, has dismantled a cross-border fraud ring worth hundreds of billions of VND, arresting 56 suspects.