Vietnam establishes management board for crypto asset trading market

Vietnam establishes management board for crypto asset trading market

The State Securities Commission (SSC) on December 10 announced the establishment of a management board for the cryptoasset trading market, following a decision issued by the Ministry of Finance.

Photo: SSC

According to the SSC, rapid global digital transformation has accelerated the development of cryptoassets, which are gradually becoming an integral component of the digital economy.

In this context, strengthening regulatory capacity is essential to protect investors and preserve national financial security. The formation of the new management board is therefore considered a timely and necessary step aligned with current regulatory needs and international trends.

The Ministry of Finance previously issued Decision No.3552/QD-BTC on October 21, to establish the board, followed by Decision No.3792/QD-BTC on November 10 assigning executive responsibilities. Implementing these decisions, the SSC issued Decision No.979/QD-UBCK on December 9 detailing the board's functions, duties, and authority, along with Decision No.977/QD-UBCK mobilising personnel for the newly formed unit.

SSC chairwoman Vu Thi Chan Phuong stressed that cryptoassets represent a new but challenging field, offering both opportunities and risks for Vietnam's emerging digital asset market.

“I expect the board to effectively fulfill its mandate, helping to build a stable, transparent, and secure cryptoasset market in Vietnam, while providing strong advisory support to the SSC and the Ministry of Finance in market oversight and policymaking,” she said.

VIR