Blockchain regulation and growth in focus at GM Vietnam 2025

Held on August 1–2 and organised by SSI Digital and Kyros Ventures under the auspices of the National Cybersecurity Association, the event featured sessions on regulatory frameworks, sandbox mechanisms, system security, and investment trends. Speakers also explored ways for Vietnamese startups to manage risks, draw in capital, and seize opportunities in the fast-evolving blockchain sector.

In his opening speech, Nguyen Duy Hung, chairman of SSI Securities Corporation, took the audience back nearly four decades to 1986, when the Vietnamese Communist Party made the historic decision to implement doi moi, or economic reform, transitioning the country from a centrally planned economy to a socialist-oriented market economy.

"This pivotal shift led to the introduction of the Enterprise Law, the formation of the stock market, and the emergence of a pioneering generation of entrepreneurs who helped lift the country out of hardship, embrace global integration, and elevate Vietnam’s standing on the world stage," said Huong.

Nguyen Duy Hung, chairman of SSI Securities Corporation. Photo: SSI Securities

Following the strategic vision of General Secretary To Lam, who has outlined a path for comprehensive development and deeper global integration, Vietnam now faces a new set of opportunities and responsibilities.

"The recently identified development pillars will foster a new generation of entrepreneurs – younger, more resilient, more tech-savvy, and more globally minded. They may still be very young today, but this generation, the citizens of a new era, will become the backbone of Vietnam’s economy in the next 10 to 20 years," said Hung. "You are the reason I believe Vietnam will not only catch up with the world but also create things that have never existed before."

More than 20,000 participants, hundreds of investment funds, technology conglomerates, and leading global founders are all turning their attention to Vietnam, not just as an emerging market, but as a rising nation poised to lead.

Speaking at the opening ceremony, Pham Tien Dung, Deputy Governor of the State Bank of Vietnam and vice president of the NCA, shared several key perspectives on digital safety, which are essential foundations for a transparent, stable, and sustainable digital asset market.

"Vietnam is steadily improving its institutional framework, policies, and legal corridors to establish a transparent, efficient, and well-regulated digital asset market, one of the key factors in the digital economy. Technology only unlocks its true value when embedded in an ecosystem of trust, standards, and accountability," said Dung. "Therefore, forums like GM Vietnam 2025 should serve as showcases for technology while also acting as platforms for policy dialogue, knowledge sharing, and the development of safety standards for digital infrastructure."

Pham Tien Dung, Deputy Governor of the State Bank of Vietnam and vice president of the NCA. Photo: SSI Securities

According to Dung, the government cannot unilaterally shape the regulatory framework or safeguard the digital infrastructure. Businesses cannot thrive without a transparent, trusted, and law-protected environment. And users will only be willing to participate, contribute, and innovate when they genuinely feel protected, supported, and trusted.

"If we do not proactively engage in dialogue, debate, and serious action today, digital trust will remain a slogan, and the digital asset market will struggle to become a true national competitive advantage," he continued. "We are entering a new phase of development, one where public-private cooperation is indispensable for building a stable, secure, and sustainable digital space."

"GM Vietnam 2025 is a valuable opportunity to listen, exchange ideas, and propose practical initiatives to shape a regulated, responsible digital asset market, advancing Vietnam’s goal of becoming a regional financial hub in line with its development strategy and international standards," added Dung.

Truong Gia Binh, chairman of FPT Corporation, said Vietnam holds a unique position in blockchain and digital assets.

"Vietnam is among the very few countries that recognise blockchain as a digital infrastructure and are deeply integrating it into the national economy. Last year, we made a strategic decision. And this year, the National Assembly passed the Law on the Digital Technology Industry, providing a legal foundation for a new generation of blockchain startups, engineers, and tech innovators," he said.

Truong Gia Binh, chairman of FPT Corporation speech at the event. Photo: SSI Securities

Vietnam has emerged as a dynamic blockchain hub in Asia: annual crypto transaction volumes have reached $120 billion, over seven million Vietnamese own cryptocurrencies, and more than 35 million transactions are recorded each year.

"Vietnamese people are tech-savvy, open to innovation, and eager to embrace the new – that is an invaluable advantage. Just look at GM Vietnam, where tens of thousands of young people gathered over just two days. It’s a clear signal that Vietnam is ready," Binh said.

Amid a turbulent geopolitical landscape, Binh believes Vietnam has made a strategic move to build a next-generation financial centre, one that goes beyond traditional finance to include crypto, blockchain, and digital assets, saying, "I believe Vietnam is on the verge of formalising digital assets, potentially launching the country’s first digital asset exchange, or even integrating the entire financial-banking-insurance-retail system with blockchain technology."

"When that happens, we will witness an explosive wave that could position Vietnam alongside the world’s leading tech nations," he added.

Blockchain tech increasingly mastered The development of blockchain networks designed and implemented by Vietnam marks a significant transition in mastering core technology and driving digital economic development.

Vietnam legalises digital and crypto assets Vietnam legalised digital and cryptoassets in the Law on Digital Technology Industry passed by the National Assembly on June 14.

GM Vietnam 2025 kicks off new digital asset era The launch of GM Vietnam 2025 marks a major step in Vietnam’s rise as a regional digital asset hub, amid the rollout of the National Blockchain Strategy, Digital Technology Industry Law, and a growing influx of international capital.