Vietnamese government tells central bank to draft fintech rules

state-bank-of-vietnam
The State Bank of Vietnam

Vietnam’s government has asked the country’s central bank to develop a fintech sandbox scheme and draft rules on regulating financial technology.

Last year the central bank warned the country’s government about the risks arising from Vietnam’s failure to regulate its fast-growing fintech sector. The State Bank of Vietnam cautioned about the lack of supervision for fintech companies in a June 2020 statement, when it also called for a fintech sandbox.

The government authorised the sandbox in a

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