Vietnam plans to pilot a digital asset market within 5 years. This information was announced at Vietnam Blockchain Day 2025, Chia by Mr. Bui Hoang Hai - Vice Chairman of the State Securities Commission.
According to Mr. Hai, the draft resolution on piloting digital assets is being submitted to the Government for early promulgation. During the pilot phase, only organizations licensed by the Ministry of Finance are allowed to provide services, advertise or market related to digital assets.
This is not only to protect investors but also to create a legal basis to prevent "underground" operations, which Capital posed many risks in recent times.
The Ministry of Finance will closely monitor
Contrary to previous predictions that only one entity would be selected, Mr. Hai affirmed that there will be many qualified organizations licensed to operate digital asset exchanges. Allowing many entities to participate is to create a competitive environment, making services more transparent and diverse.
However, the number of licensed businesses will not be too large, because the manager wants to ensure that the post-pilot monitoring and evaluation process goes smoothly.
During the 5-year trial period, the Ministry of Finance and relevant agencies will regularly monitor the activities of licensed entities, periodically report to the Government and propose solutions if any problems arise. This is also an important basis for Vietnam to move towards building an official legal framework for the digital asset market in the future.
Not only Vietnam, many countries in the world are also tightening management but at the same time encouraging the development of digital assets. Singapore and Japan have soon built a legal system to control cryptocurrencies, while the US under President Donald Trump also promoted policies to support blockchain and digital assets.
In early 2025, the Trump administration signed an executive order requiring US financial agencies to build a more transparent and friendly ecosystem for blockchain technology, in order to attract global investment Capital flows.
In that context, Vietnam's initiative to pilot the opening of the digital asset market is considered a step in line with the trend, while helping the economy take advantage of the advantages that blockchain technology brings.
