Blockchain in Vietnam in 2026: A pivotal moment for institutions and market confidence.

DNO - As Da Nang enters 2026, with the city accelerating its development into a smart city and innovation center, issues related to blockchain and digital assets are increasingly demanding stronger institutional and governance capabilities.

Da Nang Newspaper and Radio & Television interviewed Mr. Nghiem Minh Hoang, a Fintech application expert from the Vietnam Blockchain and Digital Asset Association, about the notable market developments in the coming period.

Mr. Nghiem Minh Hoang, Fintech Application expert at the Vietnam Blockchain and Digital Assets Association.

* If we place Vietnam on the regional and global blockchain map by 2026, where do you think we stand and what are our biggest competitive advantages?

- In the regional and global context, Vietnam's outstanding advantage today is its large user community and young, dynamic workforce capable of quickly adapting to new technologies. However, for many years, this advantage has not been proportionally translated into economic value due to a lack of legal infrastructure and accompanying official services.

Reports from Chainalysis (a US-based blockchain data analytics company that tracks global digital asset flows and usage) show that Vietnam consistently ranks among countries with high digital asset adoption rates. However, this position also places higher demands on risk management, information transparency, and user protection.

Entering 2026, Vietnam's opportunity lies in its ability to build a management model suited to domestic conditions, absorbing international experience but avoiding blind imitation. If the institutionalization process is implemented effectively, the market could shift from a vibrant but risky state to a disciplined operating environment, creating a foundation for long-term capital flows and sustainable development.

Developing the blockchain market and digital assets requires a balance between innovation and risk management. (Graphic: NAM BINH)

* What are your biggest expectations for the Vietnamese blockchain market in 2026?

- I believe the greatest expectation lies not in a surge in the number of projects or short-term trends, but in improving market quality through a sufficiently clear institutional framework to operate in practice.

For many years, the Vietnamese market has grown rapidly in terms of user base but has been slow to develop its standards. This has resulted in a market that simultaneously possesses great potential and high risks.

The year 2026 is pivotal as the legal framework shifts from a strategic planning phase to an operational capacity testing phase. The Law on Digital Technology Industry will come into effect, while the pilot mechanism under Resolution 05 will be implemented. At that time, a series of specific issues will arise: licensing conditions for exchanges, asset custody standards, reporting and auditing obligations, and mechanisms to protect users in case of incidents.

Alongside the cryptocurrency market, at the technology policy level, Decision 2815/QD-TTg approving the National Science, Technology and Innovation Program for the development of strategic technology products shows that blockchain is placed within the overall strategy of mastering core technologies and digital infrastructure. Identifying blockchain as a foundational technology for traceability, data governance, and building a digital ecosystem demands increasingly higher technical standards, operational responsibility, and deployment capabilities.

Digital infrastructure is a prerequisite for the sustainable development of blockchain and digital assets. (Illustration: AI)

Another key issue is that the quality of governance will determine whether capital remains in the country or continues to flow out. Only when standards for asset custody, anti-money laundering, information transparency, and independent auditing are fully established will the domestic market have a basis to compete with offshore platforms. Conversely, if the legal framework only allows for their existence without detailed operational regulations, the risks will continue to be borne by individual investors.

International experience shows that the blockchain market can only develop sustainably when legal standards are in place, strict enough to control risks but open enough not to stifle innovation. This lesson has been proven in the European Union with the MiCA framework, as well as in Singapore's cautious approach.

* Given the current situation where many young people are being drawn into the dream of "getting rich quick" from digital assets, what direction does the association have to raise awareness and help the community approach this field in a sensible way?

- In the context of a market entering a phase requiring standardization in awareness and operational frameworks, the role of the Association is not to encourage trends, but to create a foundation for a responsibly functioning market.

From 2025 onwards, the Association will adjust its operational direction towards deeper involvement in issues related to digital assets, while also acting as a bridge between policy, the market, and the community.

From a policy perspective, the Association synthesizes opinions from businesses, experts, and service providers to reflect practical challenges to regulatory agencies. This approach helps the process of building a legal framework that is closer to operational realities, reducing the gap between management objectives and implementation capabilities.

The seminar "Blockchain: From Technological Platform to Applications in Digital Finance" attracted over 1,000 students, lecturers, and experts in Da Nang. Photo: NAM BINH

Simultaneously, the Association focuses on standardizing market knowledge through training, policy dialogue, and in-depth communication activities. However, to ensure that information is not confined to narrow professional spheres, the role of mainstream media is particularly important. When digital assets are viewed from a policy-economic perspective, with verification and multi-faceted analysis, the impact of rumors, crowd psychology, and unrealistic expectations will be significantly reduced.

In my opinion, the collaboration between professional organizations and mainstream media is what creates a sustainable ripple effect, helping blockchain and digital assets find their rightful place in the digital economy, not as a short-term speculative trend, but as a field that needs responsible governance and development.

* In the process of building a legal framework for digital assets, what is the biggest challenge currently , sir?

The biggest challenge is finding a balance between risk management and not stifling innovation. If management is too tight, businesses and capital may shift to other markets; but if management is too loose, the risk of fraud, manipulation, and erosion of trust will increase.

International experience, as reflected in reports from the BIS and IMF, shows that an effective approach is often to regulate by service functions such as investment, payments, and custody, rather than attempting to meticulously classify each type of digital asset. This approach allows regulators to focus on the nature of the activity and the actual level of risk.

For Vietnam, the pilot phase under Resolution 05 is an opportunity to test and adjust the approach before scaling up the market. It is crucial to ensure consistent coordination among regulatory agencies, avoiding overlapping implementation guidelines, thereby creating a stable environment for businesses and users.

The forum "Cryptocurrency Policy Dialogue: From Risk Management to Market Creation" brought together regulatory agencies, financial institutions, and businesses from both within and outside the country. Photo: NAM BINH

* In the context of digital transformation and sustainable development, how can blockchain contribute to the green economy and transparent governance , sir?

- Blockchain can only become a reality when it is linked to real needs and has clear protection mechanisms. Possible approaches include licensed transaction and custody infrastructure, traceability in the supply chain, transparent governance data, and fraud prevention.

From a sustainable development perspective, blockchain can serve as a reliable data infrastructure, supporting the green and circular economies through increased transparency of cash flow and reduced reconciliation costs. However, it is not a panacea. Its value only emerges when the technology is integrated with clear data standards, legal frameworks, and auditing mechanisms.

Thank you for sharing!

Source: https://baodanang.vn/blockchain-viet-nam-nam-2026-thoi-diem-ban-le-cua-the-che-va-niem-tin-thi-truong-3324336.html