Vietnam Launches Blockchain Association to Conduct Research and Suggest Regulations

Vietnam Launches Blockchain Association to Conduct Research and Suggest Regulations – A newly formed blockchain group intends to assist Vietnam in promoting its digital economy and establishing its place on the global technological map. The group aims to bring together Vietnam’s specialists in the industry and seek collaboration with blockchain communities around the world for blockchain research and development.

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On Tuesday, the Vietnam Blockchain Association, the country’s first such entity in the crypto space, held its first congress in the capital city of Hanoi. The major goal of the new body is to bring together blockchain professionals to promote the growth of Vietnam’s digital economy and assist the Asian country in finding its position on the global tech stage.

Also Read: Global Regulators Consider Launching a Joint Body to Coordinate Crypto Rules

According to Việt Nam News, the association would be entrusted with expanding partnerships with similar organizations and communities around the world. Another major goal will be to encourage investment into the country’s blockchain business and to provide training for digital workers.

It will also be entrusted with creating advantageous conditions for its members to share resources and experience for blockchain technology development, research, and deployment while adhering to Vietnamese legislation.

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The Vietnam Blockchain Association is dedicated to boosting awareness to the community and advising the government on the establishment and implementation of standards and legislation to govern the selling of blockchain-based products and services, according to the organization’s head, Hoàng Văn Huây.

According to VNS, the Ministry of Home Affairs made the decision to form the association. Vietnam has been studying blockchain technologies for use in a variety of areas, including finance, transport, and retail. The Vietnamese government has also backed the establishment of blockchain solutions that really can benefit society.

Also Read: US, UK, Canada, Australia, Netherlands Share Crypto Criminal Leads, Including a Potential $1B Ponzi Scheme

The Vietnam Blockchain Association is launching its activities as the Hanoi government works to establish a legal framework for cryptocurrencies. As reported in March, Vietnamese Deputy Prime Minister Le Minh Khai has directed many departments to collaborate on the new framework with the State Bank of Vietnam.

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