Experts voiced real concern over safety and legal status of e-money since Bitcoin, a form of cryptography-based e-money, is believed to potentially cause risks for users due to its highly volatile value.
Experts worry over e-money’s red-hot growth. (Photo: kienthuc.net)
Hanoi (VNA) – Experts voiced real concernover safety and legal status of e-money since Bitcoin, a form ofcryptography-based e-money, is believed to potentially cause risks for usersdue to its highly volatile value.
According to economist Prof. Ha Ton Vinh, Bitcoin hasseen red-hot growth, rapidly rising from about 13 USD in 2013 to over 5,000 USDat the present. It can go up to 10,000 USD in the future, Vinh said.
After Bitcoin split into two derivative digitalcurrencies, the classic Bitcoin and the Bitcoin Cash on August 1, its valuecontinuously hit new records.
The usage of the virtual currency has not been legalizedin many countries, Vinh explained, citing China as an example. The neighbouringcountry has put a ban on fundraising through initial coin offering (ICO)activities, he said.
The State Bank of Vietnam has declared the ownership,trading and use of Bitcoin and other virtual money as an asset illegal andgiven regular warnings about potential risks associated to e-money.
Experts are also worried that e-money could be a tool forcrimes, such as money laundering, drug trafficking, and tax fraud while thedigital money is at a high risk of being attacked, stolen or disrupted intransaction.
In that context, the Prime Minister has approved a planto develop a legal framework for the e-money management. The Minister ofJustice was assigned to prepare legal documents related to virtual assets andmoney while the Ministry of Finance is responsible for issuing regulations ontaxes on e-money in June, 2019.-VNA
The shift to digital banking has helped banks to provide modern and convenient services to customers, but this has also exposed them to many security risks, experts said at a conference in Hanoi on August 16.
Credit growth rate in the first eight months of 2017 has been estimated at 11.5 percent compared to the end of 2016, the National Financial Supervisory Commission (NFSC) reported.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
Experts worry over e-money’s red-hot growth. (Photo: kienthuc.net) 
