Vietnam to Pilot Digital Asset Exchange at International Financial Center

On August 12, it was reported that the Vietnamese government announced plans to pilot a digital asset exchange at its international financial center. Three legislative initiatives have laid the groundwork for the digital asset sector, including a parliamentary resolution to develop financial centers, a Ministry of Finance proposal to pilot a digital asset exchange, and new laws clarifying asset class definitions. The Ministry of Finance is finalizing relevant pilot policies, expected to be submitted to the government in August, covering issuance, trading, and management processes. Service providers will be able to independently select listed assets, with priority given to highly liquid varieties. Officials emphasized that blockchain will serve as the core infrastructure, with enhanced cybersecurity and risk management measures. The central bank is also studying a central bank digital currency (CBDC) model.