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.

With total market capitalization value of US$1.45 trillion as of June 21, the cryptocurrency ecosystem has attracted investors but has also been an ideal hiding place for illegal activities.

A delay in issuing official legal regulations on managing cryptocurrencies will cause a rise in the risks of fraud and theft related to virtual assets, experts have warned.

VOV.VN - Despite experts issuing frequent warnings about the possible risks relating to the use of cryptocurrencies, especially cybercrime linked to Bitcoin, the use of the digital currency is once more booming again domestically as investors try to reap the benefits of the online asset.

Cryptocurrencies are booming in Vietnam as investors consider them promising investments while Government agencies and experts warn of their risks.