The future of digital currency and recommendations for Vietnam Governance

Abstract

Digital economy has developed rapidly and widely in the world as well as in Vietnam. The digital transformation process occurs in many socio-economic areas. Thousands of digital/ crypto assets have emerged and a part of that is being called “digital/ crypto money or currency”. According to international law and practice, these types of “digital currency” are not yet recognized as a currency. However, in the near future, the emergence of wide-accepted digital currency (issued or guaranteed by the central or national governments of a country/group) is completely irreversible. In this article, the author focus on the nature of digital currency, issuing central bank digital currency, and recommendation of monetary governance to support Vietnam economic- socio development