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<div class="key-points-section"><b>Key Points:</b>
 <ul>
  <li>Bank accounts closed due to biometric requirements.</li>
  <li>Increased Bitcoin advocacy in Vietnam.</li>
  <li>Decentralized finance interest rises.</li>
 </ul>
</div>
<figure class="wp-block-image aligncenter size-large"><a href="https://coinlineup.com/wp-content/uploads/2025/09/vietnam-bank-bitcoin-surge-file.jpeg" rel="noopener noreferrer nofollow"> </a>
 <figcaption class="wp-element-caption">
  State Bank of Vietnam Account Closures Spark Surge in Bitcoin Interest
 </figcaption>
</figure> 
<p>Vietnam's bank account closures due to biometric non-compliance have spurred Bitcoin interest, showcasing its decentralized appeal. The State Bank of Vietnam's policy, citing anti-fraud goals, catalyzes crypto demand, as seen in a 41.5% crypto user growth.</p> 
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 <p>Vietnam's bank account closures impact citizens, prompting increased interest in decentralized finance as an alternative to centralized banking systems.</p>
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 <p>In a decisive move, the <strong>State Bank of Vietnam</strong> (SBV) enforced biometric authentication for account holders, resulting in the <a href="#" rel="noopener noreferrer nofollow">closure of 86 million accounts</a>. This new regulation aims to enhance anti-fraud measures and mitigate risks associated with identity theft.</p>
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 <p><strong>Account holders faced closures</strong> if they did not comply by the end of September. Prominent figures such as <strong>Marty Bent</strong> highlighted the increasing importance of Bitcoin due to its <a href="#" rel="noopener noreferrer nofollow">decentralized and non-custodial nature</a>.</p>
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<section>
 <blockquote>
  Marty Bent, Bitcoin Writer, - "If users don't comply by the 30th [of September] they'll lose their money. This is why we Bitcoin."
 </blockquote>
</section>
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 <p><strong>The immediate effects</strong> include a reported 41.5% growth in crypto users, with Vietnamese citizens seeking <strong>financial freedom</strong> through crypto. Demand for <a href="#" rel="noopener noreferrer nofollow">peer-to-peer transactions</a> and stablecoins like USDT surged.</p>
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 <p>The financial implications are evident as Bitcoin emerges as a <strong>preferred asset</strong> against centralized financial oversight. Additionally, speculation around Vietnam's <a href="#" rel="noopener noreferrer nofollow">$2.4 billion DeFi market</a> continues to grow.</p>
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 <p>Experts predict sustained growth in the <a href="#" rel="noopener noreferrer nofollow">crypto sector</a>, driven by regulatory shifts and citizen demand for financial autonomy. <strong>Historical precedents</strong> from countries like <a href="#" rel="noopener noreferrer nofollow">India and Nigeria</a> reflect similar crypto adoption trends following government restrictions.</p>
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 <p>The <strong>move underscored</strong> the utility of <a href="#" rel="noopener noreferrer nofollow">blockchain technologies</a> in ensuring <strong>financial privacy and independence</strong>. The trajectory suggests potential <strong>regulatory shifts</strong> in response to burgeoning decentralized financial ecosystems.</p>
</section> <a href="https://coinlineup.com/vietnam-bank-account-closure-bitcoin/" rel="noopener noreferrer nofollow">Read original article on coinlineup.com</a>

Vietnam Shuts 86 Million Bank Accounts Over Biometric Rules

Coinlineup.com

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