Vietnam warns investors about crypto risks
Government has established research unit to develop regulatory framework for digital assets
The rush of Pi: Vietnamese lured by ‘next Bitcoin’ dream
Ignoring warnings from experts as well as previous scams, thousands of Vietnamese have been drawn to a new cryptocurrency called Pi.
Vietnam cryptocurrency use second highest in the world
Vietnam has the second highest rate of in terms of cryptocurrency use among 74 surveyed economies, driven by remittance payments, a new report says.
Remittances to Vietnam’s Ho Chi Minh City at record $6.1 bln in 2020
Vietnam’s main business hub, Ho Chi Minh City, received remittances worth $6.1 billion last year, a record high and up 12% from the previous year, state media reported on Thursday.
Vietnam intervened in currency markets weeks after U.S. censure
After being branded a “currency manipulator” by the United States in December for trying to keep the dong from rising in value, Vietnam is again intervening in foreign exchange markets and using what traders say is an unusual method to…
U.S. won’t penalize Vietnam for alleged currency manipulation
The Trump administration said Vietnam’s currency practices, including “excessive foreign exchange market interventions,” hurt American businesses, but that it decided not to take any punitive action.
Vietnam banks to phase out magnetic stripes for EMV chips on cards
Chips of EMV, short for Europay, MasterCard, and Visa, standards will replace the magnetic stripes on cards issued by Vietnamese banks, starting March 2021.
Vietnam refutes US move to label it a currency manipulator
The US Treasury designated Vietnam and Switzerland currency manipulators and added Taiwan, India and Thailand to its watch list But the State Bank of Vietnam said it does not use currency for unfair trade, and will work with US authorities…
Vietnam confirms Nguyen Thi Hong as first female central bank governor
Vietnam’s National Assembly on Thursday ratified the appointment of Nguyen Thi Hong as new governor of the country’s central bank, selecting a woman for the top job for the first time in its seven-decade history.
Banks maintain profit growth but bad debts rise
Most banks reported profit growth in the first nine months, but bad debts posted a double-digit rise due to the impacts of the Covid-19 pandemic.
Vietnam cancels ADB loan for HCMC metro
Vietnam has decided to cancel a $390-million loan from the Asian Development Bank meant to fund the second metro line in HCMC.
Promoting digital currency investment schemes illegal in Vietnam
Investing in digital currency remains illegal in Vietnam, and those who encourage people to invest in schemes are considered offenders of the law, according to local authorities. Residents were reportedly advised to tread with caution and avoid being defrauded by…
Bitcoin cash Vietnam-based fiat-to-crypto trading support added to Bvnex Exchange
This week the trading platform Bvnex Exchange announced the support of bitcoin cash on the Vietnam-based fiat-crypto trading platform. The support gives the Vietnamese market and other regions in Asia, the ability to trade bitcoin cash for VNDT- Vietnam dong.
Vietnam Govt to launch crypto research group to evaluate policy
Vietnam’s finance ministry has established a research group to develop and scrutinize digital-currency-related policy proposals.
Overdue debt surges at Vietnam banks
Commercial banks’ Q1 statements show a spike in debts overdue by 10-90 days as coronavirus impacts squeeze businesses’ cash flow.
Vietnam orders loan interest rate cuts for virus-hit firms
State Bank of Vietnam orders commercial lenders to exempt, reduce or delay interest payments due January 23 to March 31 on loans to businesses facing losses from the novel coronavirus epidemic, according to a statement posted on the regulator’s website.