Interesting thing about Vietnam is that they often try to ban things but are never able to enforce it. Maybe someday the government will have enough money to start enforcing like China.
Vietnam is a small country and have small influence unlike China that has a big influence and has a nuclear arsenal that they can use to intimidate everyone including other superpowers. I think that banning isn't the answer and Vietnam thinks so with them now creating their own cryptocurrency, the regulations hopefully makes it favorable to both sides.
It Is not just about power but more about the news itself. El Salvador made bitcoin a legal tender and it is still not something that is huge because the nation as a whole is smaller than most states in USA, maybe there could be a few states but I doubt it, so let alone the whole nation, just even one state of USA is bigger than whole of El Salvador. However it was a news for over a week, why? Because it is a good news and it shows that there are nations that accept bitcoin as something good.
It was El Salvador, now Vietnam, there are few others like turkey and Germany which are bigger, and it is going to get bigger and bigger to hear good news about bitcoin being accepted and liked and supported by governments. This is why I feel like we should be focusing on something not only in the bad news like China, but good things like these without caring about their power.