Digital assets emerge as a core component of digital economy

The National Cybersecurity Association (NCA), in coordination with Vietnam Television (VTV) and the State Securities Commission (SSC), and with the participation of OKX Global and Tether, held a specialized seminar on the operation and supervision of the digital asset market on December 18 in Hanoi.

Speaking at the event, Vu Duy Hien, Deputy Secretary General and Chief of Office of the National Cybersecurity Association, said digital assets are no longer merely a new financial instrument but are increasingly becoming a key component of the global digital economic infrastructure.

Blockchain technology, with its transparent verification, near-instant transactions and reduced intermediary costs, is opening up wide-ranging applications across finance, logistics, asset management and public services.

In this context, Vietnam’s decision to pilot a digital asset market is both necessary and aligned with global financial innovation trends, he said.

“If Vietnam is slow to keep pace with new governance and operational models, it risks being left behind. A pilot mechanism allows the State to control risks within a safe scope while accumulating real-world data to gradually refine policy. More importantly, if operated to proper standards, the digital asset market could help expand growth space, attract technology investment, promote innovation and foster new value-added services for the economy,” Hien went on to say.

However, Hien stressed that the digital asset market can only develop sustainably if built on a robust cybersecurity foundation and transparent supervision mechanisms. In the context of implementing Resolution No. 05/2025, he identified three priorities that must be focused.

First, ensuring cybersecurity and safety across the entire operational chain, from trading platforms, custody systems and key management to risk governance and user data protection.

Second, establishing transparent and responsive supervision mechanisms capable of tracking capital flows, assessing system health, identifying liquidation risks and detecting abnormal activities in a timely manner.

Third, strengthening domestic and international cooperation to learn from regulatory experience, share effective operating models and adapt them to Vietnam’s specific conditions.

Vu Tran Ai Tam, Business Development Director at OKX Global, said stakeholders need to assess the digital asset market through the lens of safety, transparency and responsibility, meeting higher standards for system security, market transparency, user protection and regulatory compliance.

“Different countries may adopt different regulatory models, but the common denominator of a healthy market remains safety, transparency and responsibility,” she said.

Major opportunities and challenges

The seminar took place as the global digital asset market continues to expand rapidly while carrying substantial risks. International experience shows that a number of major digital asset exchanges have been targeted by cyberattacks, exploited through technical vulnerabilities or affected by operational failures, resulting in severe asset losses and erosion of investor confidence.

These lessons underscore the urgent need for countries developing legal frameworks for digital assets, including Vietnam, to prioritize risk management.

In Vietnam, the Government’s issuance of Resolution No. 05/2025 on September 9, 2025, which authorizes a five-year pilot of the digital asset market, is widely seen as a pivotal step. For the first time, the offering, issuance and trading of digital assets are placed within an official legal framework, with stringent requirements on cybersecurity, information security, personal data protection, anti-money laundering and technical supervision.

The move opens a controlled testing space while placing great responsibility on management agencies and market participants alike.

The seminar is part of a broader array of professional activities led by the National Cybersecurity Association, aimed at analyzing cybersecurity risks, identifying emerging technology models, clarifying user protection requirements and strengthening governance and supervision of digital asset data infrastructure.

Through these efforts, the Association hopes to raise public awareness of digital asset security as a vital component of the national digital trust infrastructure, while supporting the business community in adopting and applying technology in a safe, transparent and legally compliant manner.

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