Most crypto-asset investors lack basic knowledge, follow the trend

(Dan Tri) - According to Dr. Can Van Luc, Vietnam currently has about 21 million crypto-asset investors, but most of them lack basic knowledge and "invest following trends".

The crypto asset market in Vietnam has many opportunities to break out

Sharing at the seminar "Crypto assets: From gray area to pilot - Solutions to ensure transparency, safety and efficiency" taking place today (November 6), Mr. To Tran Hoa - Deputy Head of Securities Market Development Department, State Securities Commission - emphasized that the crypto asset market in Vietnam has many opportunities to break through.

Under the guidance of the Party and State leaders, relevant agencies such as the Ministry of Finance and the State Bank have coordinated very closely to develop and submit to the Government for promulgation Resolution No. 05. Although Resolution 05 was issued with a very short number of prescribed pages, the implementation behind it is very extensive.

He said that immediately after the resolution was issued, the Ministry of Finance actively developed a detailed implementation plan, including the process of receiving and processing dossiers and the process of monitoring the crypto-asset market. The Ministry of Finance and the Securities Commission coordinated with the State Bank and the Ministry of Public Security to collect opinions and prepare options for selection, licensing and monitoring.

At the same time, legal regulations on tax and accounting for this type of asset are also being developed, applicable to both service providers, issuers and investors.

Mr. To Tran Hoa, Deputy Head of Securities Market Development Department, State Securities Commission (Photo: BTC).

Speaking of potential, the crypto asset market in Vietnam has many opportunities to break through, not only in investment but also in technology.

"We also expect that when the first licensed businesses are established, we will have a more accurate picture of the overall market. At the same time, we also have the opportunity to call for external resources - from young people who are good technology engineers - to return to Vietnam to work with Vietnamese businesses and the Government to build an information technology and blockchain system for Vietnam," Mr. Hoa shared.

He also informed that recently, the State Securities Commission has also closely coordinated with the Vietnam Blockchain Association and the market.

"We have had many discussions on technology and expertise and assessed that the Vietnamese market will be one of the markets with many breakthrough opportunities in the region. We believe that, despite being late, with the determination of ministries, branches and the support of the technology community, Vietnam will soon affirm its role in the region in this very new field," he said.

Vietnamese investors lack basic knowledge, "investing according to trends"

According to Dr. Can Van Luc - Chief Economist of BIDV - Vietnam currently has about 21 million crypto-asset investors, with turnover exceeding 200 billion USD - a huge number compared to the size of the economy. Notably, Vietnam is often in the top 3-4 in the world in terms of the rate of participants in the crypto-asset market and is only behind Korea.

However, he believes that most Vietnamese investors lack basic knowledge and "invest following trends". Therefore, it is necessary to soon include financial education and digital asset knowledge in high school and university curricula, because one of the prerequisites for sustainable market development is improving financial literacy.

Dr. Can Van Luc also emphasized that Resolution 05 is considered a "golden point" - both ensuring safety for tens of millions of investors and helping the State mobilize huge financial resources.

"The core philosophy of Resolution 05 is to manage for development, not to prohibit. Unlike the prohibition policy in some countries, Vietnam chooses the direction of both creation and risk control, focusing on tokenized assets - a part of digital assets," the expert commented.

According to him, bringing crypto assets into the legal framework is expected to bring three strategic benefits: taking advantage of technology, helping Vietnam become a pioneer in financial technology (Fintech) and promoting innovation and development of domestic trading platforms.

"This is a new capital mobilization channel, through the "tokenization" model - dividing large assets such as real estate, art, copyright into millions of small tradable parts - millions of small investors will be able to participate, opening up an attractive and transparent investment channel," he added.

In addition, he said that crypto assets also open up opportunities for global financial integration, creating a foundation for Vietnam to participate in the international digital financial network, towards building a regional financial center.

Dr. Can Van Luc emphasized that Resolution 05 is a solid bridge connecting investment opportunities and financial security. However, he said that the bridge must be wide enough to welcome large capital flows, but also needs a high enough "railing" and clear "signposts" - that is, transparent regulations on classification, taxation and licensing.

If deployed effectively, crypto assets will become an important lever, helping Vietnam take advantage of technology, attract global capital and affirm its position on the international financial map.

Dr. Can Van Luc, Chief Economist of BIDV (Photo: BTC).

Mr. Phan Duc Trung - Chairman of the Vietnam Blockchain and Digital Assets Association - also shared that risks in the crypto market exist but are not scary if we understand and manage them.

According to him, if properly managed, crypto assets do not increase risks to the financial system, but on the contrary, help to make money flows transparent. He pointed out the fact that banks can now detect and prevent money laundering through digital assets much easier than traditional transactions, because every transaction leaves a clear trace.

Mr. Trung affirmed that the opportunity for Vietnam is huge. "With about 20 million people owning crypto assets, our domestic market is not small. But most of this money is still "wandering" on international exchanges, out of supervision and not contributing to the economy," he said.

The expert believes that if we can build an effective management mechanism, crypto assets can become a new channel for mobilizing and directing capital for the digital economy, in addition to the stock market and the traditional banking system. According to Mr. Trung, the most important thing is to create trust, trust in the law, in technology, and in market transparency.

Source: https://dantri.com.vn/kinh-doanh/phan-lon-nha-dau-tu-tai-san-ma-hoa-thieu-kien-thuc-co-ban-theo-phong-trao-20251106135751734.htm