Some Models, Policies and Laws on Fintech: International Experiences and Recommendations for the Development of Fintech Within the Viet Nam International Financial Center

Currently, there are a variety of trends with regards to the global development of Fintech, leading to different approaches in policies and laws on Fintech for proper promotion and governance. By analysing relevant case law in the United States and the EU, the article proposes some suitable policy and legal frameworks for Fintech in Vietnam, considering the context of the Viet Nam International Financial Center. The article shall focus on the following main points: (i) establishing a stringent legal framework for Fintech and other relevant technologies; (ii) improving the digital infrastructure, orienting the legal framework towards risks management and concurrently creating a favourable investment environment for the development of Fintech; and (iii) with regard to the Viet Nam International Financial Center, there need to be a proper mechanism for supervision, and it should be updated and adaptated to Fintech, aiming towards sustainable development, therefore, attracting investors to join the centres.