The Vietnam Banks Association (VNBA) and Vietnam Blockchain Association on September 20 jointly organised a conference to promote legal regulations on anti-money laundering in cryptocurrency transactions.

The rapid development of digital assets, especially blockchain–based ones, and the emergence of new business models have posed unprecedented issues to policymakers around the world on how to ensure their proper development.

VOV.VN - Vietnamese authorities are in the process of verifying and investigating the case of Minh Quoc Nguyen, a Vietnamese national wanted by the FBI for his alleged involvement in a US$3 billion money laundering scheme.

Google searches for “cryptocurrency” increased sharply in recent years as Vietnamese sought investment channels, especially during the pandemic with social distancing measures in place, which forced people to stay home.

As many as 173,600 Ethereum and 25.5 million dollars have been withdrawn from Axie Infinity’s system. With that scale, this is one of the most serious attacks in the history of the cryptocurrency industry.

Many banks have increased their interest rates to attract more depositors after getting a credit growth quota expansion from the State Bank of Vietnam (SBV).

VOV.VN - The Vietnamese police have broken up an online gambling ring in Hanoi with transactions worth more than EUR1.1 billion.

VOV.VN - Vietnam ranked first in the global cryptocurrency adoption index, according to the 2021 Global Crypto Adoption Index compiled by blockchain data platform Chainalysis.

Vietnam is playing catch-up in a global race to develop its own digital currency and experts believe this will not only help the country develop new technology but also present an opportunity for Vietnam to join the most technologically-advanced countries.

Prime Minister Pham Minh Chinh has asked the State Bank of Vietnam to study and carry out pilot implementation of cryptocurrency based on blockchain technology in the 2021-23 period.