Vietnam’s Digital Asset Drive

Vietnam Charts a New Course for Digital Assets with Focus on Security, Safety, and Compliance

Ho Chi Minh City, Vietnam – A significant initiative aimed at establishing robust legal foundations and fostering a secure environment for digital assets in Vietnam was launched on the afternoon of December 10th. The VBI Academy, in collaboration with the Ho Chi Minh City Institute for Development Studies (HIDS) through its Centre for Economic Application Consulting, has spearheaded this endeavour under the theme “Security, Safety and Compliance for Digital Assets.” This marks a pivotal moment as Vietnam actively shapes its nascent legal framework for the burgeoning digital asset market.

Le Thanh Hai, director of the Centre for Economic Application Consulting at HIDS, highlighted the anticipated transformation of Vietnam’s digital asset landscape, projecting 2025 as a crucial year for this evolution. The market is expected to transition from its current phase of organic growth towards a more regulated and transparent system, underpinned by a comprehensive legal framework that aligns with international standards.

The development of a digital asset programme is seen as instrumental in bolstering Vietnam’s digital economy and its overarching digital asset ecosystem. This initiative aims to achieve several key objectives: safeguarding citizens, nurturing innovation, and laying the groundwork for the future International Financial Centre (IFC). According to Hai, the establishment of a sustainable, modern, and competitive digital asset ecosystem hinges on standardisation of knowledge, operational transparency, and heightened risk awareness among users.

This strategic shift is not merely driven by market forces but is also propelled by substantial legal advancements. In 2025, the National Assembly has approved a suite of critical documents that will redefine the digital landscape. These include the Digital Technology Industry Law 71/2025/QH15, a resolution on the establishment of the IFC, a resolution to initiate a pilot digital asset market, and the Personal Data Protection Law. Collectively, these legislative instruments create a new legal corridor, paving the way for Vietnam to accelerate its progress into the digital economy era.

The VBI Academy’s initiative is built upon four overarching goals:

• Raising Community Awareness: Educating the public about the opportunities and risks associated with digital assets.
• Strengthening Consumer Protection: Implementing measures to safeguard individuals engaging with digital assets.
• Ensuring Legal Compliance: Promoting adherence to existing and emerging regulations within the digital asset space.
• Building a Sustainable Digital Asset Ecosystem: Fostering an environment that supports long-term growth and stability.

The programme places a strong emphasis on standardising competencies for both users and businesses, focusing on two fundamental pillars: security and legal compliance. The training curriculum is designed to be comprehensive, covering essential topics such as:

• Personal Data and Asset Protection: Understanding how to secure personal information and digital holdings.
• Multifactor Authentication: Implementing advanced security measures to prevent unauthorised access.
• Private Key Management: Best practices for safeguarding the critical keys that control digital assets.
• Anti-Phishing and Cybersecurity Measures: Strategies to combat online threats and protect against fraudulent activities.
• Transaction Risk Identification: Learning to recognise and mitigate potential risks in digital transactions.
• Know Your Customer (KYC) / Anti-Money Laundering (AML) Guidance: Adhering to regulatory requirements for identity verification and combating illicit financial activities.
• Trading on Licensed Platforms: Encouraging engagement with regulated and authorised digital asset exchanges.
• Compliance with Data Protection Laws: Navigating and adhering to the Personal Data Protection Law.
• Emerging Regulatory Standards: Staying abreast of evolving regulations within the digital asset sector.

In conjunction with the launch ceremony, a significant Memorandum of Understanding (MoU) was signed between GFI Research, MEXC, and the VBI Academy. This strategic partnership is poised to advance research, training, and community understanding of digital assets, addressing the growing demand for specialised expertise in this field.

Digital assets are defined as forms of ownership that exist in an electronic format and can be traded, exchanged, or used for value via digital platforms. Lacking a physical form, these assets are managed and stored on technological systems, including the internet and blockchain technology, reflecting the global trend towards asset digitalisation.

Nguyen Huu Huan, a senior lecturer at the University of Economics Ho Chi Minh City, shared his perspective on the development of the IFC in Ho Chi Minh City. He believes the city’s competitive edge lies in its cost advantages, its capacity to adopt advanced digital finance models, and the establishment of an adaptable, internationally recognised legal framework. These elements, he suggests, will enable Vietnam to carve out a niche in global digital finance, complementing rather than directly competing with established financial centres. Huan underscored the critical need to enhance digital capabilities for both individuals and businesses, asserting that digital assets and infrastructure will play increasingly vital roles in shaping a modern IFC.

Vugar Usi, COO of MEXC Global, addressed the audience, emphasising that the creation of a secure and transparent digital asset market necessitates synchronised collaboration among regulators, industry players, and educational institutions. He articulated that the sustainable growth of the digital asset ecosystem must be built upon three fundamental pillars:

1. Clear Regulatory Standards and Enforcement: Robust regulations and effective enforcement mechanisms are crucial for protecting users.
2. Strong Industry Infrastructure: This includes secure custody solutions, operational transparency, and comprehensive risk management capabilities.
3. Education and Risk Awareness: Equipping users at all levels with the knowledge to understand risks and practice safe engagement with digital assets.

Usi expressed confidence that if Vietnam continues to implement these pillars in a coordinated manner and maintains open dialogue with all stakeholders, the nation can successfully build a trusted digital asset ecosystem capable of attracting both innovators and responsible global investment.

MEXC views Vietnam’s progression towards an IFC model as presenting three major opportunities:

• Digitally Receptive Population: Vietnam boasts one of the most digitally receptive populations globally, with a young, tech-savvy demographic eager to adopt new financial applications, providing a fertile ground for digital asset expansion.
• Transparent Development Roadmap: The establishment of an IFC coupled with a pilot framework for digital assets will facilitate the creation of a clear, compliant, and long-term development strategy.
• Vibrant Developer Community: Vietnam’s active developer community not only enhances the market’s attractiveness to users but also positions it as a potential regional hub for innovation.

COO Usi reiterated that Vietnam represents a strategic market for MEXC, where the synergy between user demand and regulatory progress is expected to be a significant driver of ecosystem growth.