Deputy PM Le Minh Khai has released an instruction for the Ministries of Finance, Justice, Information & Communications and the State Bank of Vietnam on the building of a legal framework on virtual assets and virtual currency.

Police have discovered large high-tech crime rings after analyzing a forest of information, including the mass opening of many bank accounts.

The Covid-19 pandemic has attracted capital from Vietnamese investors in cryptocurrencies. About 6 million Vietnamese own digital assets.

In the first trading session of 2022, Vietnam's stock market reached a historic peak of 1,517.95 points, and trading volume of over 526 million shares, equivalent to more than 16,688 billion VND.

The year 2021 was said to be disastrous for many industries but Blockchain boomed during the period as all Blockchain-related indexes grew strongly.

Despite repeatedly warnings from the police regarding fraudulent activities in virtual currency exchanges, there are still many victims of this crime in Vietnam just because of their desire to earn abnormally high profit quickly and carelessly.

It is likely that the piloting of virtual currency will be the second sandbox in Vietnam after Mobile Money to offer the market a new and convenient means of payment in the digital economy.

According to a survey by Chainalysis, Vietnam's cryptocurrency market has grown by 881 percent year-on-year, ranking first out of 154 countries in the "Global Cryptocurrency Adoption Index 2021" ranking.

In just a short time, Vietnam's blockchain game Axie Infinity has grown tremendously, becoming a new phenomenon in the world gaming industry.

Vietnam ranks 4th for profit earned from cryptocurrencies among Asian economies in 2020, only after China, Japan and South Korea.