Indian Business Times

Philippines and Vietnam are considering crypto-friendly legislation, unlike India

Indian Business Times July 6 2021

The fate of cryptocurrencies in Asian countries is not solely determined by China and India. As the popularity of digital tokens continues to increase, smaller players such as the Philippines and Vietnam are getting involved. According to the Philippines Stock Exchange (PSE), cryptocurrencies are an asset class they can no longer ignore. The crypto framework would make the existing exchange safer than foreign exchanges, they believe. Meanwhile, Vietnam’s Prime Minister – Pham Minh Chinh – has reportedly asked the country’s central bank to conduct a study of cryptocurrency in order for the government to run a pilot program in 2021 to 2023. During the last year, both of these countries have seen a massive increase in their citizens’ use of cryptocurrencies. According to the results of the Statista Global Consumer Survey they have the highest rate of cryptocurrency use after Nigeria.

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