On July 27, a representative of VBA said that the decision to change the name was approved with 100% consensus from the Executive Board and members of VBA, with the participation of representatives of state management agencies such as the Ministry of Home Affairs and the Ministry of Science and Technology at the 2025 Extraordinary Congress. The event took place in accordance with the procedures and regulations of Decree 126/2024/ND-CP on the organization, operation and management of associations, marking an important event in the development of VBA.
According to Ms. Pham Thu Hang, Deputy Director of the Department of Non- Governmental Organizations (Ministry of Home Affairs), the name change demonstrates the development and open vision of VBA, quickly grasping the development trends of the digital asset market. From now on, VBA will not only focus on blockchain technology but also aim to develop and lead the digital asset market, playing an important role in building the digital infrastructure in Vietnam.
However, Ms. Pham Thu Hang also noted that this market is very sensitive, prone to risks such as fraud and money laundering, especially when legal regulations are still incomplete and have certain delays. Therefore, VBA needs to soon develop and issue a code of professional ethics for members to ensure healthy, sustainable operations and compliance with legal regulations on anti-money laundering and financial transparency.
The name change to Vietnam Blockchain and Digital Asset Association also took place in the context that Vietnam has had many strategic policies to promote the development of the blockchain and digital asset industry. Specifically, the Prime Minister issued Decision No. 1236/QD/TTg on the National Blockchain Strategy on October 22, 2024, with the goal that by 2030, Vietnam will become a leading country in the region in blockchain and have an international position.
Along with that, blockchain is also identified as one of 11 strategic technologies in Decision No. 1131/QD-TTg dated June 12, 2025, helping to create momentum to promote the digital economy. In particular, the Law on Digital Technology Industry passed by the National Assembly in June 2025 officially recognized digital assets as a legal asset protected by law. This has opened up new development space, creating a foundation for the breakthrough of the digital economy in Vietnam.
Ms. Nguyen Van Hien, Vice President and General Secretary of VBA said: “The renaming of the Association not only reflects the trend of the times but also affirms VBA's determination to integrate blockchain technology and digital assets into the legal, financial and public service systems, bringing Vietnam into the global digital transformation flow. This shows that VBA's goal is not only to help Vietnam develop strongly in the field of blockchain technology but also to create a close connection between technology, finance and public services”.
Since its establishment in April 2022, VBA has built a network of 115 official members in the fields of finance, technology and education. VBA has also signed more than 200 cooperation agreements with international strategic partners such as Boston Consulting Group, Tether, Chainalysis, Dragon Capital, ACAMS, VCCI and VNBA, creating a tightly connected network of knowledge, markets and institutions in the field of blockchain and digital assets.
Mr. Phan Duc Trung, Chairman of VBA shared: “Over the past three years, VBA has not only promoted the application of blockchain technology but also built a solid foundation for the long-term development of the digital asset ecosystem in Vietnam, through policy consultation, education and community connection activities”.
With the new direction approved, VBA sets strategic goals for the 2025 - 2030 term, with a central role in promoting the development of digital infrastructure and the digital asset market in Vietnam. One of VBA's priorities is to develop the Vietnam Blockchain Multi-chain Service Network (VBSN), an open infrastructure ecosystem owned by domestic enterprises, scalable and meeting international standards. VBA aims to connect at least 50 domestic enterprises to deploy blockchain-as-a-service (BaaS) services on the VBSN platform, support the development of at least three public services using blockchain, and accompany two fintech initiatives in the finance - banking sector.
At the regional and international levels, VBA will also expand strategic connectivity through the establishment of representative offices in major financial centers such as North America and Dubai, to facilitate participation in global standard-setting organizations and cross-border cooperation forums.
"With a new name, expansion orientation and a strengthened leadership team, VBA is entering a strategic development phase. Technology is no longer a goal but has become a driving force for innovation, helping to improve national competitiveness and put Vietnam on the global digital economic map," said Mr. Phan Duc Trung.
Source: https://doanhnghiepvn.vn/cong-nghe/thuc-day-phat-trien-thi-truong-tai-san-so-va-he-sinh-thai-blockchain-tai-viet-nam/20250728082827370
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