Vietnam is gradually perfecting the legal framework for the digital asset and cryptocurrency sector to ensure transparency and safety for investors. During the regular government press conference on March 5, Deputy Minister of Finance Nguyen Duc Chi affirmed that cryptocurrencies and digital assets are a new field with many challenges, not only in Vietnam but also globally. Recognizing the importance of managing this field, the Government has directed the competent authorities to urgently research and build an appropriate legal framework.

Pilot Cryptocurrency Exchange in Vietnam

According to the plan, the Ministry of Finance will submit a report to the Government in March on the pilot scheme for a cryptocurrency exchange for both institutional and individual investors. This is an important step to control digital asset transactions within the legal framework, minimize risks, and protect the legitimate rights and interests of investors.

It is noteworthy that this pilot exchange will be operated by organizations licensed by the State, ensuring transparency and safety in transactions. The implementation of this controlled trading model not only helps the cryptocurrency market operate in an orderly manner but also helps prevent fraudulent and deceptive activities related to digital assets.

In addition to piloting the cryptocurrency exchange, the Ministry of Finance is also coordinating with relevant ministries and sectors to research and develop regulations on the issuance of digital assets. This aims to open up opportunities to raise capital through digital asset platforms for domestic enterprises. The legalization of this activity will help Vietnam avoid falling behind in the digital transformation race, while leveraging blockchain technology to improve the efficiency of capital mobilization for production and business.

If implemented effectively, digital assets can become a new capital mobilization channel, promoting the development of the digital economy, and creating favorable conditions for enterprises to access more flexible capital sources.

Cryptocurrency Management Policy in Vietnam

Previously, on February 24, at a meeting with the Central Committee's Policy and Strategy Board, General Secretary Tô Lâm emphasized the necessity of soon incorporating cryptocurrencies into the official management framework. He affirmed that considering cryptocurrencies as a form of digital assets can help mitigate negative impacts such as money laundering, financial fraud, and at the same time, promote the contribution of digital assets to the national economy.