Vietnam

The Socialist Republic of Vietnam is one of the biggest Bitcoin users in the world and the cryptocurrency industry is growing at a high speed in this Southeast Asian country. Around 22% of the citizens own or transact with cryptos.

The Vietnamese government has set up a 9-member committee charged with monitoring crypto-related activities and proposing appropriate government policies.

The British multinational banking giant HSBC has successfully completed a blockchain-enabled Letter-of-Credit (LC) transaction. The Bank announced that it was propagated between South Korea and Vietnam. This marks the first blockchain LC operation for both countries and seventh in the world in general.

After months of circumspection, Vietnam has moved to stop imports of crypto mining equipment, according to the country's customs department.

The number of Bitcoin ATMs has increased almost twofold recently in Vietnam, with new arrivals coming in and old players adding a number of machines in different locations across Vietnam.