Globally, the digital asset market is growing rapidly, with many countries and financial institutions affirming that digital assets will not disappear but will reshape the traditional financial sector.
In this context, Viet Nam has also shown its responsiveness by continuously introducing relevant regulations.
Binance CEO Richard Teng said that Viet Nam is an important link in its global digital asset development strategy, adding that Viet Nam is a market with huge potential in the future.
According to Nguyen Manh Cuong, Deputy Secretary-General of the Viet Nam Automation Association, Viet Nam is at a turning point in establishing a clear legal framework for digital assets.
Specifically, digital assets have been placed under watch to gradually develop an appropriate management mechanism, while some localities such as Da Nang and Ho Chi Minh City have pioneered pilots of digital assets.
Relevant management bodies, including the Ministry of Finance and the State Bank of Viet Nam, are also researching the digital asset management models linked to physical assets.
These will form an important foundation for digital assets to make strong contributions to the digital economy and open new growth drivers for Viet Nam.
Issuing a legal framework for digital assets is a significant challenge not only for Viet Nam but also other countries, due to its novelty and rapid changes.
The primary objective is to strike a balance between law and innovation. Viet Nam could become a model for others if it is able to leverage this wave.
In June, the National Assembly passed the Law on Digital Technology Industry, marking the first time that digital assets were recognised in the national legal framework.
