We had a concept for loaning the crypto and having the stablecoin in return. People who wanted the crypto badly to replace the local currency hated this idea. And it didn't picked up much. In fact KAVA is also there which is on same line but it didn't get much exposure either.
Now this concept is coming back with the advent of the RWAs. And now the Vietnam wants to keep the crypto assets as something to be kept for the collateral and this way they want to have control over the loan industry and still benefit from the crypto market swings in the due process.
Vietnam seems to be taking the interest into this concept. And they happen to make a difference in the process by adding the proposal for the crypto asset collateral for loan.
This also means that banks and the govt both have to work on their crypto assets and the holding. And also some sort of the treasury to be established for the govt crypto wallets and the process to be done for the loan on the collateral for the virtual assets.
This a great start and this also means we can get away from the USD dependence. We can kick the USD out of the market and focus on the BTC and the ETH for the future.
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