Non-current digital assets
Speaking at GM Vietnam 2025 organized by SSI Digital and Kyros Ventures on August 1-2 in Hanoi, Mr. Pham Tien Dung - Deputy Governor of the State Bank, Vice President of the National Cyber Security Association emphasized that digital assets are a new field with great potential but need to be properly recognized, establish a clear mechanism and ensure safety for the entire ecosystem participating.
Mr. Pham Tien Dung said that Vietnam has a clear development strategy in the field of blockchain and digital assets, associated with cybersecurity requirements.
From the perspective of a management agency, he affirmed: We need to see digital assets as assets, not currency. If it is considered a currency, it will be bound by many regulations, while digital assets need space for testing and creativity".
Mr. Pham Tien Dung said that in the past, there have been three major policies shaping the legal foundation for the digital asset market. Firstly, the National Assembly has passed a resolution on developing financial centers, in which it promotes innovation and establishes a specialized exchange for digital assets - including both guaranteed and unsecured assets, requiring appropriate management mechanisms.
Second, the Ministry of Finance has submitted to the Government a resolution to pilot a cryptocurrency asset exchange, creating a premise for a transparent and controlled market.
Third, the Law on Digital Technology Industry has just been issued, clearly establishing the legal definition of digital assets for the first time, creating a corridor for applying technology to govern and develop the digital economy.
On the executive side, Mr. Dung emphasized the role of Resolution 57 in "paving a legal path" for innovation activities, removing barriers for new technology models.
Young people are the pioneer force
In addition to legal issues, Mr. Pham Tien Dung emphasized the role of the young force in digital transformation of the banking industry. He said that many banks now have over 90% of transactions conducted via digital channels - this result comes from the contribution of young people, technology enterprises and people. Without young people, without a technology startup ecosystem, it is impossible to have digital banking activities like today.
As a representative of the State Bank and the National Cyber Security Association, Mr. Dung also affirmed that the Government has taken an important step when issuing Decree 94 on the sandbox mechanism, allowing testing new technology models in the risk control space.
This is the first decree signed by the Government on a controlled testing mechanism. With this decree, I believe that businesses will have more opportunities to develop the market, especially in centers such as Ho Chi Minh City or Da Nang, said Mr. Dung.
