On the morning of June 7, the Da Nang Software Business Association (DSA) and the Binance cryptocurrency exchange organized the event "Danang Fintech Summit 2025", with the theme "Departing the future of digital assets".
Digital assets are one of the issues of great concern today. Sharing at the event, experts pointed out that Vietnam has an advantage in developing digital assets. Firstly, Vietnam also recorded an annual economic growth rate of up to 6-7%/year.
Second, Vietnam has a population of over 100 million people, ranking 3rd in Southeast Asia, the rate of people using smartphones is up to over 78.8%, many young people love technology and are willing to learn new things.
In addition, the Government has issued a National Digital Transformation Program to 2025, with a vision to 2030, targeting the digital economy to account for 20% of GDP by 2025 (30% by 2030) and 80% of online public services by 2025.
In addition, the data also shows that Vietnam is among the countries with the highest number of people owning cryptocurrency and earning a high profit from investing in this asset in the world.
In that reality, building a legal framework for strict and safe digital asset management while still creating a spirit of innovation is something that experts attending the event are interested in and contributing opinions on.
Binance Vietnam Lynn Hoang National Director said that management agencies should approach the construction of a legal framework for digital assets to attract foreign investment capital to Vietnam, based on balancing 3 perspectives: The law must be in harmony with the world, stimulate users to participate and domestic companies should not feel abandoned to establish a crypto company in Vietnam...
Ms. Lynn Hoang emphasized: I think that the issuance of a complete legal framework may be a bit slow, but we should focus on promoting innovation.
Mr. Giang Nguyen - Director of FPT Incubator - said that countries around Vietnam have had specific policies to pilot the sandbox mechanism - a controlled trial of digital assets. They prioritize technology and test many applications before issuing policies. For example, Thailand or the Philippines have allowed the use of crypto to pay at some system stores, convert digital assets into cash or convenient payments to support tourism.
Associate Professor, Dr. Nguyen Thanh Binh (RmIT University Vietnam) emphasized that building a legal framework for digital assets is not a simple matter. Currently, many countries such as the US, Switzerland or Singapore have not yet built a legal framework to ensure a balance between risk control and development.
For Vietnam, Mr. Binh emphasized that the management agency must find the most important thing to control risks, while creating opportunities for crypto to develop. According to him, it is necessary to focus on regulations on buying and selling digital assets, if they are converted to pay in cash, what will be the regulations; Next is stock market and it is necessary to clearly distinguish what is a stock, what is a commodity to avoid risks...
We may not be able to manage all the problems that are happening with digital assets at present, but we need to come up with a legal framework and bring the most important thing for management..., Mr. Binh concluded.
