Experts believe that the crypto asset market presents a breakthrough opportunity for Vietnam's digital economy, given its rapid growth both domestically and internationally. However, they warn that without a robust monitoring and management framework, digital assets could pose significant risks to financial stability and national security.

At the conference “Sharing Experiences in Managing and Operating Centralized Crypto Asset Exchanges” held on March 27, Senior Lieutenant Colonel Duong Duc Hung, Deputy Head of the Anti-Terrorism Division, Department of Homeland Security, Ministry of Public Security, highlighted that while digital assets have the potential to drive economic growth, they also pose substantial management challenges.

Functional agencies have uncovered cases where foreign terrorist organizations used digital assets to infiltrate Vietnam, both overtly and covertly. This has raised concerns about Vietnam becoming a transit hub for illegal financial activities.

Mr. Phan Duc Trung, Chairman of the Vietnam Blockchain Association, pointed out that despite numerous cases related to crypto asset investment, Vietnam has only prosecuted two cases since 2017. This reflects a notable gap in control and law enforcement mechanisms.

Nevertheless, recent government policy initiatives, such as Prime Minister's Decision 1236, the draft Law on Digital Technology Industry scheduled for passage in May, and Prime Ministerial Directive 05/CT-TTg dated March 1, 2025, directing the pilot implementation of a crypto asset exchange, offer hope for new momentum in the market.

Globally, the crypto asset market records a daily trading volume of $200 billion, with 617 million users—around 8% of the world's population. Vietnam is home to approximately 17 million crypto asset owners, ranking 7th worldwide.

Over the past four years, Vietnam has been consistently placed in the top five of Chainalysis' Global Crypto Adoption Index, holding the top position for two years.

Additionally, Vietnam is host to around 20 centralized crypto exchanges, supported by over 1,000 marketing communities. According to Binance's May 2023 report, Vietnam accounts for approximately 5% of global trading volume—a figure experts suspect may be even higher.