VBA Supports Regulation to Combat 'Junk' Tokens
The government's direction to link tokenized assets with real-world assets (RWA) is seen as a necessary step to mitigate risks from "junk tokens."
According to recent data, more than 90 percent of tokens created between 2020-2022 have lost value or ceased operation.
Resolution No. 05 on piloting a tokenized asset market in Vietnam, effective from September 9, aims to address these issues.
The state has identified RWA, or tokenized real assets, as the key focus to promote.
Expert Insights
Phan Duc Trung, chair of the Vietnam Blockchain and Digital Asset Association (VBA), shared his thoughts on Resolution 05/2025/NQ-CP, stating it is a "swift and timely move."
- Resolution 05/2025/NQ-CP allows domestic businesses to provide trading market services and offer or issue tokenized assets.
- The focus on RWA is expected to promote a more stable and secure tokenized asset market in Vietnam.
Author's summary: VBA supports government regulation to combat "junk" tokens.