With a scale of 100 billion USD, Vietnam can become a crypto asset center in the region

(NLDO) – Vietnam currently ranks 5th in the world in terms of cryptocurrency popularity with an estimated holding of about 100 billion USD.

This is the figure stated by Dragon Capital and commented that Resolution 05/2025/NQ-CP on piloting the crypto asset market (digital currency) recently issued by the Government is an important step to promote the rapid and right development of the digital asset market.

In the context that Vietnam currently ranks 5th in the world in terms of cryptocurrency popularity with an estimated holding size of about 100 billion USD, this Resolution marks the establishment of the first legal framework for the crypto asset market in Vietnam.

Experts from Dragon Capital investment fund said that the above legal framework will contribute to minimizing speculative risks by restricting unregulated platforms while meeting the orientation of further developing the domestic capital market by positioning Vietnam to become one of the regulated crypto asset centers in Asia in the near future.

Chainalysis' 2025 report shows that Vietnam is among the top in the world in terms of crypto asset adoption index with a popularity level 3-4 times higher than the global average. Illustration photo: AI

As reported by Nguoi Lao Dong Newspaper , Resolution 05 allows a pilot of the crypto asset market for a period of 5 years. This is an important step to bring digital asset trading activities in Vietnam into a legal framework, ensuring safety, transparency and compliance with international practices.

Financial expert Phan Dung Khanh cited Chainalysis' 2025 report showing that Vietnam is among the world's leading groups in terms of crypto-asset (digital asset) acceptance index, with a popularity level 3-4 times higher than the global average.

According to Triple-A, by 2024, more than 20% of Vietnam’s population will own this asset. Many investors are willing to pay taxes and trade on official platforms if protected by law. Having a legal corridor will attract not only those who already own digital assets but also new investors who were previously hesitant.

Which digital asset exchange model to choose?

However, choosing the right crypto asset exchange model is the problem of concern at this time.

According to Associate Professor Dr. Tran Hung Son, Director of the Institute for Banking Technology Development Research - Ho Chi Minh City National University, there is no single perfect model and Vietnam should apply a mixed approach, learning from the experiences of many countries and adjusting it to suit the domestic context.

For example, the sandbox model of Singapore and the UK is the most suitable model for the initial stage. This helps the management agency to observe and collect real data while building a complete legal framework without hindering innovation in the financial sector.

Learn from Japan and South Korea about consumer protection: These two countries are very strict in licensing trading floors, with high requirements on capital, security and separation of customer assets.

Take a look at Switzerland and Singapore for their legal framework for fundraising: They have done a great job of classifying digital/crypto assets and creating clear legal regulations for innovative businesses to raise capital.

"Towards a comprehensive model like the European Union's MiCA legal framework: In the long term, Vietnam needs a comprehensive, unified set of laws to manage the entire crypto-asset market, and MiCA is a reference model" - Associate Professor, Dr. Tran Hung Son said.

Source: https://nld.com.vn/quy-mo-100-ti-usd-viet-nam-co-the-tro-thanh-trung-tam-tai-san-ma-hoa-o-khu-vuc-196250913161445927.htm