A growing number of major domestic and international investors are showing strong interest in Vietnam’s pilot digital asset market.

VOV.VN - The police in northern Hung Yen province have dismantled a large-scale cryptocurrency fraud ring operating via a fake trading platform called “Toptrade1,” arresting nine suspects and freezing 22 related bank accounts.

Organisations across Southeast Asia, including Vietnam, are facing a concerning rise in ransomware attacks, with businesses in the region experiencing an average of 400 attempted attacks per day in 2024, according to cybersecurity firm Kaspersky.

The Ministry of Finance has submitted to the Government a draft decree on implementing a pilot programme for the issuing and trading of digital assets.

Authorities with potential responsibility for digital assets are stepping up moves for the development of a legal corridor where they will be covered.

Vietnam ranked fifth globally in the 2024 Global Crypto Adoption Index, according to the US blockchain analysis firm Chainalysis.

Vietnam ranks third globally in the number of cryptocurrency holders, data from the Crypto Crunch App indicates that 26 million people in the country own cryptocurrencies, five times the number with stock trading accounts.

VOV.VN - The country ranks second in the world in terms of the ratio of its population that owns cryptocurrency, according to data collected by cryptocurrency payment company Triple-A.

Vietnam was the third largest cryptocurrency gainer in the world in 2023, only after the US and UK, with nearly US$1.2 billion, according to US blockchain analysis firm Chainalysis.

The cryptocurrency market in Vietnam remained bleak in 2023, resulting in a lack of profitability for nearly 65% of investors. Among them, a significant 43.6% of investors experienced losses, according to the Vietnam Crypto Market Report 2023 by Coin98 Insights.