According to the Ministry of Finance, in early March, Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee on completing the legal framework for managing and handling digital assets and cryptocurrencies.
On March 11, the Ministry of Finance submitted to the Government a draft Resolution on piloting the issuance and trading of digital assets and digital currencies.
At the conclusion of the meeting, the Government Standing Committee assigned the Ministry of Finance to preside over and coordinate with relevant ministries and agencies to develop a dossier to submit to the Government to issue a pilot Resolution for nationwide application.
Thereby, promoting research activities, developing new technologies, encouraging innovation in Vietnam, thereby promoting economic growth, in line with the general trend of the world and practical conditions of Vietnam.
On that basis, on March 11, the Ministry of Finance submitted to the Government a draft Resolution on piloting the issuance and trading of digital assets and digital currencies.
According to the Ministry of Finance, the issuance and trading of digital assets and cryptocurrencies are growing rapidly in terms of issuance volume, transaction value and complexity. The widespread popularity of digital assets and cryptocurrencies globally poses opportunities, challenges and risks to the stability of the financial system and the development of economies.
"The pilot implementation of the digital asset and cryptocurrency market is suitable for practical conditions in Vietnam, creating a flexible legal environment that quickly adapts to innovation within the framework of State management and supervision. Thereby, supporting capital mobilization to serve production and business development, develop the digital economy and promote economic growth" - said the Ministry of Finance.
The pilot implementation on a limited scale with the control and supervision of state management agencies will quickly meet market demand. At the same time, it will help management agencies have time to develop policies and mechanisms suitable to the practical situation.
According to the Ministry of Finance, the digital asset and cryptocurrency market is constantly developing, becoming increasingly diverse and complex, posing many risks to investors and the financial market. Therefore, the pilot implementation allows management agencies to research and thoroughly evaluate the feasibility and conditions for practical implementation, minimizing illegal acts such as money laundering and terrorist financing, protecting investors, and creating a premise for the development of a transparent, safe and sustainable financial market.
In the draft Resolution allowing the pilot implementation of issuance and trading of digital assets and digital currencies, the Ministry of Finance proposed a coordination mechanism between management agencies such as the Ministry of Finance, the Ministry of Public Security, and the State Bank to promote market activities while minimizing risks to financial security and ensuring stability for the financial and monetary markets.
The Ministry of Finance added that the specialized legal system related to digital assets still does not have clear regulations on identifying and classifying digital assets as well as business activities, buying, selling, and exchanging these types of assets, thereby serving as a basis for applying corresponding tax policies.
Accordingly, in cases where specialized laws on digital assets clearly define the nature and allow digital assets to be traded and bought and sold as a type of property, tax obligations will be performed in accordance with the provisions of tax laws.
![[Photo] President Luong Cuong receives former Vietnam-Japan Special Ambassador Sugi Ryotaro](https://vstatic.vietnam.vn/vietnam/resource/IMAGE/2025/3/20/db2d8cac29b64f5d8d2d0931c1e65ee9)
![[Photo] Prime Minister receives a number of businesses investing in Ba Ria-Vung Tau province](https://vstatic.vietnam.vn/vietnam/resource/IMAGE/2025/3/20/8e3ffa0322b24c07950a173380f0d1ba)
Comment (0)