FACTORS INFLUENCING TRADITIONAL MONETARY SYSTEMS: A STUDY OF CRYPTOCURRENCY IN VIETNAM

Abstract

The significant growth of cryptocurrencies since the emergence of Bitcoin in 2009 has sparked debates in society about the potential replacement of conventional currencies by cryptocurrencies. While cryptocurrencies offer technological advantages, their unique characteristics also pose limitations and challenges. This research aims to present the advantages of cryptocurrencies, their relationship with traditional currencies, and the challenges they pose to the existing financial system. It provides policymakers with valuable information to formulate policies for dealing with cryptocurrencies in the future. Keywords: Cryptocurrency, Financial System, Monetary Policy.