Residents in Hanoi and Ho Chi Minh City will now be able to pay registration fees for cars and motorbikes through the Government’s national public service portal, banking electronic payment channels and intermediary payment service providers.
Vietnam owns special advantages, especially in the IT sector, which can be a basis for the development of financial technology (fintech) towards financial inclusion, according to Dominic Mellor, senior economist of the Asian Development Bank (ADB).
The State Bank of Vietnam (SBV) has ordered financial institutions and other organisations providing payment brokerage services not to conduct cross-border transactions in cryptocurrency for fear of money laundering, terrorism sponsoring, tax evasion and fraud.
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