Experience of regulating cryptocurrency in Japan, Canada and recommendations for Vietnam

Abstract

The rapid development of advanced technology not only leads to significant changes in the socio-economic life but also the appearance of economic relationship with fundamental differences compared to the past. In alliance with this movement, new concepts have emerged such as blockchain and cryptocurrency, which requires a special legal approach so that appropriate managing mechanism is formed and adjusted to fit the current situation. The article provides an insight into the cryptocurrency as an asset in the context of Japan and Canada as well as the managing mechanisms towards this particular asset in these two countries. Certain recommendations on policies would also be proposed to control the cryptocurrency in Vietnam.