Vietnam has created a state organization to support crypto startups

In Vietnam, a state organization has been launched to help crypto startups. Business representatives, together with the authorities of the country, created the Vietnam Blockchain Union (VBU).

The main task of the organization is to consult various investors, as well as to help Vietnamese startups related to the crypto market. VDCA (Vietnam Digital Communications Association) said that the new organization will also have to consult not only individuals, but also legal entities that are involved in the development of the crypto industry in the country. Nguyen Minh Hong, head of the VDCA, noted that both blockchain and AI technologies are key aspects of human development and can change the world. In turn, Dang Minh Tuan, present head of the VBU, believes that the blockchain can turn Vietnam into a highly developed and technological Power. He sees cooperation with the government and the development of adequate levers for regulating the crypto market in the country as main tasks of the organization. It is worth noting that now Vietnam is one of the most active countries introducing cryptocurrencies into their society. According to research conducted by Chainalysis, Vietnam ranked first in the world in this aspect, overtaking the US and China, which ranked 8th and 12th respectively.