Speakers at the event - Photo: PHAM TUAN
At the event "International Financial Center and Sharing Perspectives on Digital Assets" organized by SSI Digital and Kyros Ventures on the afternoon of July 31, experts and representatives of management agencies provided important information about the development plan of the crypto asset market in Vietnam.
What will the legal framework for the crypto asset market be like?
Mr. To Tran Hoa - Deputy Head of the Market Development Department under the State Securities Commission - said that he is completing a draft resolution on the pilot crypto asset market, expected to be issued next August.
The goal of the draft is not to stifle the market, but to create a wide enough testing corridor for businesses and investors to have space to develop, while helping management agencies have a basis for research, control and especially anti-money laundering.
Mr. Hoa also emphasized that Vietnam is currently on the FATF (Financial Action Task Force) grey list. Establishing a suitable legal framework for crypto assets is expected to help Vietnam soon be removed from this list, paving the way for the development of the financial market in the future.
Sharing more, Mr. Hoa said the draft also clearly stipulates activities within the scope of regulation, including issuance, offering, trading and exchanging crypto assets.
Regulated entities include issuers, service providers related to crypto assets, individual investors and financial institutions participating in the market.
Notably, the draft will give great power to organizations providing crypto-asset services to choose crypto-assets for listing and trading. However, it is recommended to choose assets that are highly liquid and popular in the market.
Mr. Hoa also revealed that the State Bank is researching and building a national digital currency (CBDC), and he personally is fortunate to be able to participate in contributing to this process.
Enterprises proactively prepare and wait for legal corridors
Mr. Mai Huy Tuan - General Director of SSI Digital - shared that currently the company's financial products related to digital assets have not been announced, because they are waiting for the resolution to be passed and the legal corridor to be completed.
However, the company has made certain preparations and will announce detailed information as soon as there are clear legal documents.
A representative of a company specializing in providing human resources in the blockchain field said that many Vietnamese engineers are currently working on global blockchain projects. This company expressed its desire to have an ecosystem and environment attractive enough to attract Vietnamese talents to return to contribute to the country.
The participating speakers all expressed their expectation that Resolution 22 of the National Assembly on the establishment of the Vietnam International Finance Center, together with the resolution on crypto assets, will create a strong support foundation for the development of blockchain businesses and startups right in Vietnam.
Proposal to establish a cryptocurrency exchange in an international financial center
Also at the event, Mr. Ho Ky Minh - Standing Vice Chairman of Da Nang City People's Committee - shared about the development orientation of the international financial center (VIFC) in the locality.
The city prioritizes controlled testing of new models such as digital assets , while promoting the application of strategic technologies such as artificial intelligence (AI) , blockchain , cloud computing and big data...
Mr. Le Thanh Hai - Director of the Center for Economic Application Consulting under the Ho Chi Minh City Institute of Economic Research - frankly admitted that Vietnam currently does not really possess the traditional advantages like other successful international financial centers.
However, in the current context, Mr. Hai believes that Vietnam can exploit many other advantages if it promotes the development of a decentralized digital economy (also known as an on-chain economy ). According to him, in this model, digital assets , crypto assets (NFTs) , transaction data , smart contracts , decentralized identities , electronic certificates , etc. are created, managed and traded securely based on blockchain technology .
Source: https://tuoitre.vn/he-lo-du-thao-thi-diem-tai-san-ma-hoa-san-se-duoc-tu-chon-loai-tai-san-giao-dich-20250731210551763.htm
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