PANews reported on October 4th that Cointelegraph, citing Reuters, reported that the State Bank of Vietnam (Bank of Vietnam) expects credit growth to reach around 20% in 2025. With the increasing adoption of cryptocurrencies in the region, this move could lead to liquidity flowing into the global cryptocurrency market. Pham Thanh Ha, Deputy Governor of the Bank of Vietnam, said on Friday that further interest rate cuts are needed to promote economic growth and ease the uncertainty brought about by the US tariff increase. Vietnam’s government legalized cryptocurrencies in June as part of a broader tech regulatory initiative that categorized cryptocurrencies into virtual assets representing tokenized real-world products and crypto assets like Bitcoin and Ether. However, under the new cryptocurrency regulations and its five-year sandbox pilot program, which launched in September, the government prohibits the issuance of on-chain fiat-backed assets, including stablecoins and securities.PANews reported on October 4th that Cointelegraph, citing Reuters, reported that the State Bank of Vietnam (Bank of Vietnam) expects credit growth to reach around 20% in 2025. With the increasing adoption of cryptocurrencies in the region, this move could lead to liquidity flowing into the global cryptocurrency market. Pham Thanh Ha, Deputy Governor of the Bank of Vietnam, said on Friday that further interest rate cuts are needed to promote economic growth and ease the uncertainty brought about by the US tariff increase. Vietnam’s government legalized cryptocurrencies in June as part of a broader tech regulatory initiative that categorized cryptocurrencies into virtual assets representing tokenized real-world products and crypto assets like Bitcoin and Ether. However, under the new cryptocurrency regulations and its five-year sandbox pilot program, which launched in September, the government prohibits the issuance of on-chain fiat-backed assets, including stablecoins and securities.
Vietnam's central bank expects credit growth to drive liquidity into cryptocurrency markets
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PANews reported on October 4th that Cointelegraph, citing Reuters, reported that the State Bank of Vietnam (Bank of Vietnam) expects credit growth to reach around 20% in 2025. With the increasing adoption of cryptocurrencies in the region, this move could lead to liquidity flowing into the global cryptocurrency market. Pham Thanh Ha, Deputy Governor of the Bank of Vietnam, said on Friday that further interest rate cuts are needed to promote economic growth and ease the uncertainty brought about by the US tariff increase.
Vietnam’s government legalized cryptocurrencies in June as part of a broader tech regulatory initiative that categorized cryptocurrencies into virtual assets representing tokenized real-world products and crypto assets like Bitcoin and Ether. However, under the new cryptocurrency regulations and its five-year sandbox pilot program, which launched in September, the government prohibits the issuance of on-chain fiat-backed assets, including stablecoins and securities.
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