The rapid expansion of the market is adding fresh impetus to the digital economy, while underscoring the need to strengthen the legal framework, risk governance and investor protection.

Forecasts by JPMorgan indicate that global crypto market capitalisation could reach US$10 trillion by 2030, compared with about US$3.1 trillion at present.

As of July 2025, annual crypto trading volume in Vietnam had surpassed US$200 billion, placing the country among the top seven globally and top three in the Asia-Pacific in terms of market participation.

Speaking at a policy dialogue on the development of Vietnam’s digital asset market hosted by VnEconomy, representatives of the Vietnam Blockchain and Digital Assets Association said crypto assets are expanding at a rapid pace, forming a new asset class with an increasingly visible role in both the global economy and Vietnam’s domestic market. Capital flows linked to blockchain activities in Vietnam were estimated at US$220 billion in the most recent year, double the level of the previous period. At the same time, the market’s growth presents huge regulatory challenges.

Officials from the State Securities Commission said the issuance of Government Resolution No. 05 demonstrates Vietnam’s determination to bring the crypto market under formal oversight, particularly as the country works to meet recommendations from the Financial Action Task Force (FATF) on preventing money laundering and terrorist financing.

Under the current roadmap, Vietnam plans to develop a centralised and transparent digital asset market, with a clear separation between primary and secondary markets and stringent licensing requirements for service providers. The Law on the Digital Technology Industry has recognised digital assets as property, providing an important legal basis for regulating economic relations that have already emerged in practice.

Experts note that a pilot-based, phased yet proactive approach is essential, as digital assets represent both a new source of growth and a field with inherent risks.

Effective management in the early stages will be critical to Vietnam’s ability to make effective use of digital assets in support of long-term, sustainable digital economic development.

Vietnam launches pilot digital asset market with focus on cybersecurity

VOV.VN - Vietnam has officially launched a five-year pilot program for its digital asset market, placing cybersecurity and transparent oversight at the center to manage risks while supporting sustainable development.