Vietnam prepares legal framework for digital assets, target to be finalized by March

Jakarta, Pintu News – The Vietnamese government is drafting regulations related to digital assets and cryptocurrencies. Prime Minister Pham Minh Chinh has instructed the Ministry of Finance and the State Bank of Vietnam to draft regulations that are expected to be completed by March 2025. The move is part of the national economic strategy to boost economic growth to 8% by 2025.

Vietnam Moves Fast on Digital Asset Regulation

Despite not having clear regulations on digital assets, Vietnam has one of the highest cryptocurrency ownership rates in the world. A report from Triple-A in 2024 showed that crypto adoption in Vietnam is on the rise, prompting the government to quickly draft rules to regulate this ecosystem.

The initiative also highlights the need for investor protection as well as oversight of cryptocurrency-related activities. With clearer regulations in place, Vietnam hopes to create a safer and more transparent environment for digital industry players.

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Central Banks Oversee Financial Stability

In addition to drafting regulations for digital assets, the State Bank of Vietnam is also tasked with managing interest rates, exchange rates, and credit growth to maintain economic stability. The government wants to ensure that the banking sector remains transparent and able to adapt to changes in financial technology.

In addition, the new policy will include stricter law enforcement to address unfair competition among financial institutions. With these measures, the government hopes to create a fairer and more competitive market in the face of economic digitalization.

The Future of Crypto Regulation in Vietnam

With the increasing adoption of digital assets, Vietnam’s move to establish a legal framework is expected to provide certainty for investors and industry players. Clear regulations will not only protect consumers, but also help attract more investment into the technology and digital finance sectors.

The completion of the regulation in March 2025 will be an important milestone for Vietnam in developing a more structured and secure cryptocurrency ecosystem. If implemented well, this policy could make Vietnam one of the centers of digital innovation in the Southeast Asian region.

Also Read: Pi Network Price Plunges 18% After Legal Warning from Vietnam (3/2/25)

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Reference:

• Bitcoin News. Vietnam to Draft Legal Framework for Digital Assets by March. Accessed March 3, 2025.
• Featured Image: Vietnam Insider