Digital assets, cryptocurrencies are protected like real assets

Mr. Nguyen Khac Lich, Director of the Information Technology Industry Department, assessed that the Law on Digital Technology Industry helps 21 million digital asset owners escape the legal gray area.

Director of Information Technology Industry Nguyen Khac Lich

At the investment conference on July 9 in Hanoi, Mr. Nguyen Khac Lich, Director of the Department of Information Technology Industry - Ministry of Science and Technology , said that the Law on Digital Technology Industry marks the first time Vietnam has a legal framework for digital assets.

"The law considers digital assets as a type of property under civil law, which means they are protected like real assets," he said.

According to the Director, Vietnam currently has about 21 million people owning crypto assets. Previously, trading and owning digital assets did not have a clear legal corridor. The Law on Digital Technology Industry, issued by the National Assembly in June and effective from January 1, 2026, takes crypto asset owners out of the "gray zone".

According to the Law, digital assets are assets as prescribed in the Civil Code, expressed in the form of digital data, created, issued, stored, transferred and authenticated by digital technology in the electronic environment. Crypto assets are digital assets created, issued, stored, transferred and authenticated by blockchain technology, distributed ledger technology or other similar digital technology.

Mr. Lich said that from the Government's perspective, there are three major trends in asset management. The first is personalization based on artificial intelligence and big data. The second is digital assets associated with blockchain technology, including the tokenization of assets. The third is the trend of cross-border transactions and investments.

According to him, to achieve the double-digit growth target as expected by the Government, it is necessary to open up a new development space, which is the digital space. With the annual crypto transaction volume of more than 100 billion USD of Vietnamese people, he assessed digital assets as a "launching pad" for the digital economy.

Mr. Phan Duc Trung, Chairman of Vietnam Blockchain Association and 1Matrix company, the new legal corridor changes the way the crypto asset market operates, which is influenced by foreign service providers.

Before the law, fundraising activities often took place in closed groups, and many transactions were conducted on unlicensed platforms. With the Law on Digital Technology Industry, these activities will become public and protected by law. "This helps minimize risks and consequences for investors, while creating new opportunities for startups and genuine innovative startups," he said.

Expert Phan Duc Trung comments on the legal framework for digital assets

Mr. Nguyen Xuan Minh, Chairman of Techcom Securities, commented that new technologies will directly affect the investment market. Accordingly, in addition to stocks and bonds, individual investors will have more opportunities to access assets such as crypto and crowdfunding. Reducing the cost of accessing the market will create conditions for many people to participate in small-scale investments.

According to Triple-A's 2024 report, more than 20% of Vietnam's population owns cryptocurrency. Vietnam is also among the top three countries in terms of crypto adoption according to data from analytics firm Chainalysis, with adoption rates 3-4 times higher than the global average.

HA (according to VnE)

Source: https://baohaiphongplus.vn/tai-san-so-tien-ma-hoa-duoc-bao-ve-nhu-tai-san-thuc-416103.html