On June 16, the Vietnam Blockchain Association (VBA) and 1Matrix hosted a specialized training session on “Legal Framework and Scam Identification in Digital Assets” exclusively for over 40 journalists and reporters from reputable domestic and international media outlets in Ho Chi Minh City.
Mr. Phan Duc Trung, Chairman of VBA and Chairman of the Board of Members of 1Matrix, shared that the legalization of digital assets presents a breakthrough opportunity for Vietnamese businesses. He highlighted how Vietnam’s digital legal landscape is rapidly evolving, creating a conducive environment for tech companies and investors. In the first half of June 2025 alone, three significant documents were promulgated, including the recently passed Digital Technology Industry Law by the National Assembly, which will take effect on January 1, 2026. This law is Vietnam’s first legal document to define digital assets, providing a clear framework to promote innovation while enhancing management, supervision, and investor protection.
Mr. Nguyen Duc Trung, Chairman of VBA, shares his insights at the event.
“The swift completion of the legal framework is a crucial prerequisite for the robust development of the blockchain technology industry, digital assets, and related services, propelling Vietnam’s presence on the global technology map,” asserted Mr. Trung.
Dr. Do Van Thuat, Director of Blockchain Solutions and Architecture at 1Matrix, elaborated on how blockchain has been embraced as a strategic infrastructure and global connectivity solution by many nations. He cited examples such as China’s BSN service network and Europe’s EBSI network, which shares infrastructure and common public data for 29 countries (27 EU countries and two extended countries).
Regarding Vietnam’s indigenous blockchain network, Mr. Thuat explained that 1Matrix combined multiple advanced technology platforms to optimize existing advantages and minimize the drawbacks of independently operating networks. This approach effectively addresses the blockchain triangle of security, decentralization, and scalability.
“Simply put, the Vietnamese blockchain network comprises multiple blockchain layers, bridges between chains, and consensus mechanisms with varying priorities,” Mr. Thuat shared.
The rapid advancement of digital assets and blockchain technology brings new challenges to regulation due to the swift evolution of technology and the absence of a global legal framework for emerging fraud patterns. According to the Internet Crime Complaint Center (IC3) of the Federal Bureau of Investigation (FBI), there were approximately 150,000 fraud cases related to digital assets in 2024, resulting in losses of over $9.3 billion, a nearly 70% increase from the previous year. Vietnam is among the top six countries with the highest fraudulent transaction volumes globally.
Mr. Tran Huyen Dinh, Head of the ChainTracer Program at VBA, which specializes in tracing projects with scam indicators, remarked, “Today’s scam models are highly sophisticated, featuring simulated websites, intricately copied documents, and even fake founding teams. Ordinary users find it challenging to distinguish between genuine and fraudulent projects without warnings from independent and reputable organizations and guidance from the media.”
Mr. Dinh continued, “While scams involving digital assets have been widely discussed, the specific methods employed in these schemes continually evolve, making it difficult for individuals to stay updated and equipped with the necessary knowledge for protection. Tools like TokenSniffer, Dextools, and Revoke.cash can help identify risks early on, but they are not user-friendly for most people. Even government agencies face challenges in addressing these issues due to the lag in legal regulations.”
The Journey of “One Step Further, A Million Miles” with SNP Run As One 2025
Following the tremendous success of the previous two seasons, the Saigon New Port Corporation (SNP) is thrilled to announce the return of the SNP Run As One for its third edition with the theme, “One Step Connects, Thousands Advance.” The event will take place on June 8 at the Sala Urban Area in Thu Duc City, Ho Chi Minh City, bringing together nearly 2,000 athletes and participants.
“Dissolving the National Financial Supervisory Commission: A Strategic Reform for Enhanced Financial Oversight”
“Deputy Prime Minister Ho Duc Phoc has recently signed Decision No. 16/2025/QD-TTg, issued by the Prime Minister on June 16, 2025. This decision entails the dissolution of the National Financial Supervisory Commission, bringing about a strategic shift in the nation’s financial regulatory framework.”
A Deposit-Refund System for Beverage Containers: A Novel Approach to Plastic Waste Management in Vietnam
The Deposit-Return System (DRS) is an innovative model that empowers consumers to take an active role in sustainability. It encourages consumers to return their single-use beverage containers after use, receiving a refund of their initial deposit. This system is designed for convenience, with return points easily accessible at retail stores, hotels, restaurants, cafes, and dedicated collection centers.
What Minimum Wage Region Applies to Ho Chi Minh City Workers Post-Merger?
“Prior to July 1st, if the minimum wage applicable to the communal level was lower, the previously implemented wage rates would remain in effect.”
“Provincial Merger: A New Chapter in Local History and Unlocking National Dynamism”
The proposed merger of provinces/cities in Vietnam, from 63 to 34, is a monumental nationwide administrative reform. It is not merely a matter of redrawing the map, but a pivotal restructuring move to foster a streamlined and modern administrative system, fit to seize the opportunities of the new era.
