On June 16, the Vietnam Blockchain Association (VBA) and 1Matrix Company organized a training course on "Legal framework and identification of crypto-asset fraud" in Ho Chi Minh City for more than 40 reporters and journalists from reputable domestic and foreign press, television and media agencies.
Mr. Phan Duc Trung, Chairman of VBA, Chairman of the Board of Directors of 1Matrix, said that the law on crypto assets is a breakthrough opportunity for Vietnamese enterprises. Accordingly, Vietnam's digital technology law is changing rapidly, creating favorable conditions for technology enterprises and investors when in the first half of June 2025, 3 important documents were issued.
Most recently, the National Assembly officially passed the Law on Digital Technology Industry (CCNNS), effective from January 1, 2026. This is the first legal document in Vietnam to define crypto assets, creating a clear corridor to promote innovation while improving management efficiency, supervision and investor protection.
VBA Chairman Nguyen Duc Trung shared at the program.
"The rapid completion of the legal corridor is an important premise for the blockchain technology industry, crypto assets and related services to develop strongly, putting Vietnam on the global technology map," said Mr. Trung.
According to Dr. Do Van Thuat, Director of Blockchain Solutions and Architecture, 1Matrix Company, Blockchain has been chosen by many countries as a strategic infrastructure and a global connection solution such as China with the BSN service network or Europe with the EBSI network sharing infrastructure and public data for 29 countries (27 EU countries and 2 extended countries).
Sharing about the "Make in Vietnam" Blockchain network, Mr. Thuat said that to solve the impossible triangle in blockchain, including: security, decentralization and scalability, 1Matrix has combined many advanced technology platforms in the world to optimize existing advantages and minimize disadvantages when the networks operate independently.
"Simply put, the Vietnamese Blockchain network includes many Blockchain layers, chain bridges and different priority consensus mechanisms," Mr. Thuat shared.
Along with the strong development of crypto assets and blockchain technology are new challenges in management due to the rapid development of technology and the lack of a common global legal framework for new types of fraud.
According to the Internet Crime Complaint Center (IC3 - FBI) of the US Federal Bureau of Investigation, in 2024 alone, there were 150,000 fraud cases related to crypto assets with total losses of more than 9.3 billion USD, an increase of nearly 70% compared to the previous year. Vietnam is among the 6 countries with the highest volume of fraudulent transactions globally.
Mr. Tran Huyen Dinh, Head of the ChainTracer Fraud Tracking Program, VBA, said: "Many current fraud models are organized very professionally, with fake websites, sophisticatedly copied documents, and even the founding team are fake individuals. It is very difficult for ordinary users to distinguish between real and fake without warnings from reputable independent organizations and information orientation from the press and media."
According to Mr. Dinh, although frauds related to crypto assets are often mentioned, the specific methods of each case are constantly changing, making it impossible for people to update information and equip themselves with knowledge to prevent them. Trusted tools such as TokenSniffer, Dextools, Revoke.cash...
Although it can help identify risks early, it is not easy to use for most people. Even state management agencies have many difficulties in handling the process due to the delay in legal regulations.
Source: https://nld.com.vn/luat-hoa-tai-san-so-thach-thuc-gi-cho-chong-lua-dao-196250616175104785.htm
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