Vietnam Blockchain Association chairman, Phan Đức Trung, believes that the proposed digital assets legalization framework in Vietnam has the potential to combat fraud in the country's crypto space. Currently, Vietnam's legal status on cryptocurrency and digital assets is unclear, creating grey areas that criminals exploit. Vietnamese citizens are active crypto investors, with blockchain-related capital inflows estimated at $105 billion for 2023-2024. However, the lack of regulatory clarity allows bad actors to operate through offshore entities. Trung argues that the upcoming draft law, expected to be passed in Q2 2025, will establish a legal framework to address consumer protection, dispute resolution, money laundering, and illicit financial flows associated with cryptocurrency in Vietnam.



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