Promoting digital assets initiative in Vietnam

Promoting digital assets initiative in Vietnam

A digital asset initiative has been launched with the participation of MEXC, aiming to enhance safety, compliance, and the development of a transparent digital asset ecosystem in Vietnam.

On the afternoon of December 10, the VBI Academy, in collaboration with the Ho Chi Minh City Institute for Development Studies (HIDS) through the Centre for Economic Application Consulting, kicked off the initiative under the theme “Security, Safety and Compliance for Digital Assets”. This is considered a notable step as Vietnam begins shaping its initial legal foundations for the digital asset market.

According to Le Thanh Hai, director of the Centre for Economic Application Consulting under HIDS, 2025 marks an important transition for Vietnam's digital asset market.

The market is gradually shifting away from spontaneous growth and moving towards a transparently managed phase with a complete legal framework aligned with international standards.

The digital asset programme will play a significant role in building Vietnam's digital economyand digital asset ecosystem, contributing to citizen protection, fostering innovation, and laying the groundwork for the future International Financial Centre (IFC). According to Hai, standardised knowledge, operational transparency, and users' risk awareness will form the foundation for a sustainable, modern, and competitive digital asset ecosystem.

This transition is being driven not only by market demand but also by substantial legal developments. In 2025, the National Assembly approved several key documents, including the Digital Technology Industry Law 71/2025/QH15, a resolution on establishing the IFC, a resolution initiating a pilot digital asset market, and the Personal Data Protection Law. These documents establish a new legal corridor and pave the way for Vietnam to advance further into the digital economy era.

The initiative sets out four overarching goals: raising community awareness, strengthening consumer protection, ensuring legal compliance, and building a sustainable digital asset ecosystem.

The programme highlights the standardisation of competencies for both users and businesses across two core pillars: security and legal compliance. Training content includes personal data and asset protection, multifactor authentication, private key management, anti-phishing and cybersecurity measures, and transaction risk identification, as well as guidance on KYC/AML, trading on licensed platforms, and complying with the Personal Data Protection Law and emerging regulatory standards in digital assets.

The signing of an MoU between GFI Research, MEXC, and the VBI Academy

Alongside the launch ceremony, the event also featured the signing of an MoU between GFI Research, MEXC, and the VBI Academy.

This partnership is considered an important step towards promoting research, training, and community understanding of digital assets in the context of rising demand for expertise and specialised knowledge.

Digital assets are understood as types of assets that exist in electronic form and can be owned, bought, sold, exchanged, or utilised for value through digital platforms.

They have no physical form and are stored and operated on technological systems such as the internet or blockchain, aligning with the global trend of asset digitalisation.

From the perspective of developing an IFC in Ho Chi Minh City, Nguyen Huu Huan, senior lecturer at the University of Economics Ho Chi Minh City, believes the city's potential lies in cost advantages, its ability to apply advanced digital finance models, and the establishment of a flexible internationalised legal framework.

These factors will allow Vietnam to compete in global digital finance rather than confronting traditional financial centres directly. He emphasised that improving digital capacity for both communities and businesses will be essential in building a modern IFC, where digital assets and digital infrastructure will play increasingly important roles.

In his remarks at the event, Vugar Usi, COO of MEXC Global, said that building a safe and transparent market requires synchronised collaboration between regulators, industry businesses, and training institutions.

He stated that the sustainable development of the digital asset ecosystem must be built on three fundamental pillars: clear regulatory standards and enforcement mechanisms to protect users; strong industry infrastructure with security, custody, operational transparency, and large-scale risk management solutions; and especially education, where users at all levels are equipped with risk awareness and safe practices.

COO Vugar stressed, “If Vietnam continues to implement these three pillars in a coordinated manner and maintain open dialogue with stakeholders, the country can absolutely build a trusted digital asset ecosystem that attracts both innovators and responsible global capital.”

Vugar Usi, COO of MEXC Global

According to Vugar, MEXC sees three major opportunities as Vietnam moves towards an IFC model.

First, Vietnam is one of the most digitally receptive countries in the world, with a young, tech-savvy population open to new financial applications, providing a favourable foundation for digital asset development.

Second, the plan to establish an IFC along with the pilot framework for digital assets will help shape a transparent and compliant long-term development roadmap. Finally, Vietnam's vibrant developer community makes the market not only attractive to users but also capable of becoming a regional innovation hub.

COO Vugar said that Vietnam is a strategic market for MEXC, where user demand and regulatory progress can jointly drive ecosystem growth.

VIR