Hanoi (VNA) – Vietnam has recorded more than 220 billion USD in crypto asset flows so far this year, up 55% from the previous year, reflecting strong demand in remittances and savings via digital services, while underscoring the need to build a regulated domestic market that safeguards stakeholders’ interests.
At a forum on the digital asset market held in Hanoi on October 2 as part of the Vietnam Innovation Day 2025, Vu Quoc Huy, Director of the National Innovation Centre, noted that the Party and State have taken strategic steps in this field.
He said Resolution No. 57-NQ/TW of the Politburo identifies science and technology, innovation, and digital transformation as the main drivers for rapid national development. In addition, the promulgation of the law on the digital industry and the Government’s Resolution No. 05/2025/NQ-CP dated September 9, 2025, on piloting the crypto asset market in Vietnam represent important legal milestones. They open opportunities for the development of a domestic digital asset ecosystem, from licensing exchanges and establishing investment funds to deploying national blockchain infrastructure.
Echoing this view, To Tran Hoa, deputy head of stock market development department under the State Securities Commission of Vietnam, stressed that Resolution 05/2025/NQ-CP specifies issuance conditions, requiring issuers to be legal entities in Vietnam and base issuance on real assets. It also sets strict standards for virtual asset service providers (VASPs).
Phan Duc Trung, Chairman of the Vietnam Blockchain and Digital Asset Association and Chairman of 1Matrix company, said early piloting with safe and transparent asset classes such as government bonds, money market funds, and treasury bills in line with Resolution 05 will help kick-start the market in accordance with international standards and create a foundation for sustainable development.
Trung also highlighted the importance of international cooperation, stating that strengthening ties with leading financial institutions is key to adopting global practices and attracting long-term capital inflows.
Professor Dr Phan Trung Ly, former chairperson of the National Assembly’s Committee on Legal Affairs, noted that current legal frameworks remain at a principal level. He urged the early establishment of dedicated regulatory bodies to turn crypto assets from potential into a driver of double-digit growth. Regulators should clarify the legal framework for digital assets and blockchain, including definitions of digital assets, ownership rights, dispute settlement, tax obligations, consumer protection, and security standards./.
VNA
