Vietnam to Pilot Digital Asset Exchange at International Financial Center

Vietnam is taking significant steps toward establishing a legal framework for digital assets, including plans to pilot a digital asset exchange at its international financial center. This initiative marks a major milestone in the country's efforts to integrate into the global fintech landscape while prioritizing cybersecurity as a critical condition for safe transactions.

The announcement was made during GM Vietnam 2025, one of Asia's largest blockchain and digital asset events, held in Hanoi on August 1-2, 2025. Organized by SSI Digital and Kyros Ventures, the event attracted over 20,000 attendees and featured hundreds of international speakers from major tech hubs such as South Korea, Singapore, the UAE, the United States, and Hong Kong.

Pham Tien Dung, Deputy Governor of the State Bank of Vietnam, highlighted that Vietnam has officially established a legal foundation for digital assets, including cryptocurrencies. Building on this framework, the country will pilot a digital asset exchange at its international financial center, signaling a breakthrough in its fintech development and global integration efforts.

Three key legal milestones have laid the groundwork for this initiative. First, the National Assembly passed a resolution endorsing the development of financial centers, including specialized exchanges for digital assets. Second, the Ministry of Finance submitted a proposal to pilot a digital asset exchange, identifying blockchain as the core technology for transaction monitoring and operations. Third, the recently enacted Law on Digital Industry and Technology provides clear definitions for digital, virtual, and tokenized assets, enabling the creation of detailed regulations for this emerging sector.

Vietnam's proactive approach places it among the few countries globally with specific legal measures for digital assets. Deputy Governor Pham Tien Dung emphasized that the country is not merely outlining strategic directions but is actively implementing laws to facilitate investment and business activities in this field. However, he also stressed the importance of robust cybersecurity measures to mitigate risks as digital asset transactions expand.

The initiative has garnered high-level political support. In February 2025, General Secretary To Lam urged swift action to regulate digital currencies and develop a sandbox framework for piloting controlled cryptocurrency exchanges. Prime Minister Pham Minh Chinh further reinforced this commitment by including blockchain and digital assets in the National Strategic Technology List in June 2025.

The Ministry of Finance is finalizing a draft resolution to submit to the government by the end of August 2025. The resolution aims to create a broad experimental framework for businesses and investors while providing regulators with practical insights to refine policies. Key provisions include guidelines for issuing, trading, and managing digital assets, with a focus on high-liquidity assets to ensure market transparency and stability.

Additionally, the State Bank of Vietnam is exploring a national digital currency (CBDC), aligning with global trends in modernizing financial systems. Industry experts view this as a strategic move to position Vietnam as a competitive player in the global digital economy.

This development comes as countries worldwide, including Singapore, Japan, and the UAE, are intensifying efforts to regulate and promote digital asset markets. Vietnam's pilot project could serve as a model for other nations seeking to balance innovation with regulatory oversight while fostering economic growth in the digital age.