On June 5, in Hanoi, Nguyen’s State Securities Commission (SSC) Vice Chairman Pei Huanghai said at the conference titled “The Future of Crypto Assets and Digital Financial Markets” that crypto assets and the tokenization of real-world asset (RWA) are gradually becoming a key driver of the digital economy. Vietnam is entering a crucial stage of drafting a legal framework for digital finance and piloting crypto asset trading platforms. Draft key points: foreign investors can open accounts; domestic investors are initially limited to those who already hold crypto assets; all transactions are denominated in Vietnamese đồng.
Tokenized asset categories covered in the meeting overview
Chris Chiew explained that assets that can be used for tokenization include:
· Real estate
· Gold
· Industrial infrastructure
· Data centers
· Energy projects
· Port systems
Chiew cited international cases to point out that major financial institutions such as BlackRock and Hamilton Lane have successfully launched tokenized investment products.
Three core regulatory requirements highlighted by the SSC vice chairman
Pei Huanghai emphasized that for sustainable market development, there is a need for: a transparent ecosystem, effective risk governance, and stronger investor protection mechanisms. He said, “These are also the core requirements for regulators and companies as they develop Vietnam’s crypto asset pilot market.” The meeting also discussed topics including anti-money laundering measures, cybersecurity risks, and investor safeguards.
Vietnam market data and international context
Pan Denzhong, chairman of the Vietnam Blockchain Association, said that the Bitcoin ETF assets currently managed by BlackRock are about $67 billion, and digital asset trading volumes in the Asia-Pacific region reached about $2.4 trillion as of June 2025.
Based on industry forecasts presented at the meeting, the global tokenized asset market size may reach an estimated $19 trillion by 2033. Vietnam’s market size is also estimated to expand to between $70 billion and $80 billion by 2030 (the figures above are industry forecast numbers cited during the meeting, not officially confirmed data).
FAQ
What are the specific rules for foreign investors under Vietnam’s crypto pilot framework?
Based on the regulatory draft outlined during the meeting, foreign investors are allowed to open accounts in Vietnam and participate in the crypto market. All transactions must be executed through domestic licensed VASP platforms and are denominated in Vietnamese đồng; after licensed VASP platforms go live, investors can keep personal wallets to hold assets.
What is Vietnam’s position in the global crypto market currently?
At the meeting, CAEX senior advisor Chris Chiew said Vietnam ranks seventh globally in terms of the number of crypto asset users, and fifth in terms of trading growth rate.
What is the legal basis for Vietnam’s crypto asset pilot framework?
Vietnam SSC Vice Chairman Pei Huanghai said the legal basis for the pilot framework is Government Resolution No. 05/2025/NQ-CP. Vietnam is using it to develop a legal framework for digital finance and pilot crypto asset trading platforms.
