In the interview on Vietnam Law Newspaper, Dr. Tran Van Binh proposed that Vietnam needs to issue its own digital currency (DC) to take advantage of the benefits this technology brings. According to him, digital currency has high volatility but has the advantage of reducing transaction costs and better controlling expenses.
Dr. Binh said that Vietnam needs to learn from other countries that have applied digital currency into their economies and build a clear legal framework to manage digital currency transactions. He proposed that the State Bank of Vietnam should issue a national digital currency and businesses should also be allowed to issue their own digital currencies.
Issuing a digital currency will help reduce transaction costs and create conditions for economic development. At the same time, Dr. Binh recommended that the government should manage digital currency exchanges to ensure safety and transparency for investors. He also emphasized that enacting a suitable legal framework is essential to protect investors and build trust in digital currency transactions.
In addition, he proposed the establishment of digital currency exchanges managed by the government to ensure safety and collect taxes from transactions. This will help control cash flow and money laundering activities, as well as create more confidence for investors when trading.
Dr. Binh affirmed that issuing a digital currency is a major step forward in the future and will bring many benefits to the Vietnamese economy. He stressed that it needs to be implemented step by step, not hastily, and needs to learn from the experience of countries that have applied digital currency into their economies.
This interview has provided in-depth insights and specific proposals on the issuance and management of digital currency in Vietnam. Let's follow and see the next steps of the digital currency policy in Vietnam.
