The Central Bank of Vietnam expects credit growth to drive liquidity into the cryptocurrency market.
ChainCatcher news, according to Cointelegraph citing Reuters, the State Bank of Vietnam (Vietnam's central bank) expects the credit growth rate to reach around 20% in 2025. As cryptocurrency adoption continues to increase in the region, this move could lead to liquidity flowing into the global cryptocurrency market.
Pham Thanh Ha, Deputy Governor of the State Bank of Vietnam, stated on Friday that further interest rate cuts are needed to promote economic growth and mitigate uncertainties caused by increased US tariffs. As part of a broader technological regulatory measure, the Vietnamese government legalized cryptocurrency in June, categorizing cryptocurrencies as virtual assets representing real-world tokenized products and crypto assets such as bitcoin and ethereum. However, under the new cryptocurrency regulatory framework and its five-year sandbox pilot program launched in September, the government prohibits the issuance of on-chain fiat-backed assets, including stablecoins and securities.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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