As many countries remain cautious about regulating encryption assets, Vietnam has taken decisive steps. In June 2025, the Vietnamese government issued the "Digital Technology Industry Law", officially granting legal status to encryption assets and establishing a clear regulatory framework and development roadmap. Although stablecoins and Central Bank Digital Money have not yet been fully incorporated into the regulatory system, this legislative move signifies that Vietnam's encryption ecosystem is shifting from a regulatory gray area to a standardized path.

Vietnam is able to make rapid progress in the field of encryption regulation, mainly thanks to three factors:

Firstly, the actual demand in the market is strong. Vietnam has a large population that relies on cross-border remittances, facing inflationary pressures, and many people lack access to traditional banking services, which makes cryptocurrency an effective tool for solving real problems.

Secondly, the Vietnamese government's decision-making system is efficient. The centralized administrative structure empowers it to quickly adjust policies, allowing Vietnam to rapidly seize opportunities in the development of digital finance.

Finally, Vietnam has a clear strategic plan for digital economic transformation. By establishing a compliant environment, Vietnam aims to attract international capital, promote local technology development, and activate the blockchain entrepreneurship ecosystem.

Data shows that Vietnam currently has over 17 million encryption users, with cryptocurrency-related remittance amounts reaching up to 16 billion USD in 2024, placing it among the forefront of the global active cryptocurrency markets. With the gradual improvement of relevant tax systems, pilot trading platforms, and anti-money laundering mechanisms, Vietnam is reserving policy space for innovative areas such as stablecoin.

For Vietnam, developing the encryption economy is not merely a matter of choice, but an inevitable path to solving real economic challenges through technological innovation. With rapid decision-making and an open attitude, this emerging Southeast Asian market is reshaping the Asian encryption landscape, showcasing the innovative potential of developing countries in the field of Digital Money.