Experts warn of the risks of participating in the crypto asset market

Experts say that the price of crypto assets fluctuates very strongly and the legal framework in many countries (including Vietnam) is not yet complete, which will pose risks.

The Government has just issued Resolution No. 05/2025/NQ-CP on piloting the crypto asset market in Vietnam with a pilot period of 5 years.

According to Resolution 05, enterprises licensed to provide services of organizing crypto-asset trading markets must be Vietnamese legal entities, registered to operate under the Law on Enterprises in the form of a limited liability company or a joint stock company.

Vietnam to pilot crypto asset market from September 2025. (Illustration photo)

As soon as Resolution 05 was issued, many units quickly established businesses to enter the potential crypto-asset market, including many big names.

HD Securities plans to spend nearly VND 1,500 billion to contribute capital to HD Crypto Asset Exchange Joint Stock Company; VPBankS invests capital to establish Vietnam Prosperity Crypto Asset Exchange Joint Stock Company; VIX Securities with VIX Crypto Asset Exchange Joint Stock Company; TCBS with Techcom Crypto Asset Exchange Joint Stock Company...

According to experts, the Government's official opening of the "playground" for the crypto-asset market will bring many development opportunities, while also posing many challenges in management, operation and ensuring financial security.

Responding to VTC News, Mr. Nguyen Ha Minh Thong, founder of Cabo Capital - a financial expert in Ho Chi Minh City, commented that the crypto asset trading market is increasingly becoming an attractive financial channel thanks to two outstanding advantages: high liquidity and 24/7 transactions without space or time limits. This is a superior point compared to traditional investment channels such as stocks or real estate - which are limited in transaction time and legal framework.

“Currently, young people - the key workforce of the economy - are very responsive to technology and interested in crypto investment channels. They consider crypto not only a channel to make profit, but also an opportunity to access global financial trends,” said Mr. Thong.

According to this expert, popularizing digital financial knowledge to the people and soon forming a legal cryptocurrency trading market is extremely necessary. That not only helps young people have more transparent investment tools, but also paves the way for Vietnam to participate more deeply in the global digital economy .

However, Mr. Thong also warned that people and investors need to pay special attention to risks when participating in the crypto asset market.

Typically, crypto asset prices often fluctuate strongly, while the legal framework in many countries (including Vietnam) is still incomplete. Along with that is the risk of fraud, scams, or investors lacking knowledge, following the crowd mentality, which can easily lead to heavy losses.

Mr. Nguyen Ha Minh Thong said that Vietnam needs to encourage the development of the crypto-asset market in parallel with building a transparent and clear legal corridor. At the same time, promoting digital financial education for young people is an urgent requirement, helping them participate in the market safely, proactively and sustainably.

Expert Nguyen Ha Minh Thong. (Photo: D.V)

Economic expert Tran Thang Long shared that Resolution 05 stipulates that enterprises operating crypto-asset trading floors must have a minimum charter capital of VND 10,000 billion.

Of which, at least 65% of the capital is contributed by shareholders and members who are organizations; over 35% of the charter capital is contributed by at least 2 organizations such as commercial banks, securities companies, fund management companies, insurance companies, and enterprises operating in the technology sector. This Resolution demonstrates the Government's desire to strictly and professionally manage the crypto-asset market.

According to Mr. Long, the minimum charter capital of 10,000 billion VND is extremely high, equivalent to the capital of many mid-sized commercial banks. This shows that the Government only allows enterprises with real potential, risk management capacity as well as responsibility.

“The government wants to prevent from the very beginning virtual floor models, risky investments, fraud or market manipulation that have occurred in the crypto sector in the world,” Mr. Long said.

According to Mr. Long, Resolution 05 also shows the Government's encouragement for formal financial institutions with supervision and standards in risk management. These financial institutions will ensure transparency, professional management of digital assets, helping people and investors to transact safely.

Data from Chainalysis shows that Asia-Pacific is the fastest growing crypto-asset trading region in the world. In particular, Vietnam currently ranks 3rd in the region with crypto-asset capital inflows into the market exceeding 220 billion USD, up 55% compared to the previous year. This clearly reflects the great demand for money transfer, savings and applications in digital services.

However, according to Chainalysis, most of the activities of Vietnamese investors still take place on international exchanges. This not only causes tax losses but also affects the prevention of money laundering, terrorist financing (AML/CFT) and high-tech crimes, requiring the early formation of a transparent, controlled domestic market and the protection of investors' rights.

Recently, during his working trip to the United Arab Emirates (UAE), Permanent Deputy Prime Minister Nguyen Hoa Binh had an important working day with Binance and Bybit, two leading companies in the digital asset sector.

The Permanent Deputy Prime Minister expressed his wish that Binance open a headquarters in Da Nang and cooperate closely with the Vietnam International Financial Center in deploying a crypto asset exchange.

The Government's goal is to move cryptocurrency activities in Vietnam from a large-scale informal market, dependent on foreign channels, to a formal market that can be managed in terms of taxation and integrated into the domestic financial system.

DAI VIET

Source: https://vtcnews.vn/chuyen-gia-khuyen-cao-nhung-rui-ro-khi-tham-gia-thi-truong-tai-san-ma-hoa-ar969361.html