State Bank of Vietnam meets Tether and agrees to continue stablecoin information sharing

The State Bank of Vietnam held a working session with fintech group Tether to exchange views on stablecoins, including international regulatory approaches and how Tether’s stablecoin operates, and the two sides agreed to continue cooperation and information sharing. The meeting, chaired by Deputy Governor Pham Tien Dung, included representatives from the State Bank of Vietnam’s Foreign Exchange Management Department, Payment Department, International Cooperation Department, Monetary Policy Department and Anti-Money Laundering Department. Tether executives outlined stablecoin policy and regulatory trends across jurisdictions including the United States, the European Union, Singapore and Japan, and provided operational details on its stablecoin covering reserve assets, custody, redemption mechanisms and disclosure. The Deputy Governor linked the discussion to Vietnam’s ongoing work to build the legal framework for digital finance and crypto-assets, while reiterating the central bank’s priority on safeguarding macroeconomic stability as a basis for monetary policy and central banking operations. Both sides recorded that they will continue to cooperate, share and update relevant stablecoin-related information going forward.