$BTC On July 29, 2025, Vietnamese Prime Minister Phạm Minh Chính held a significant meeting with leaders of Dunamu, the operator of South Korea’s leading crypto exchange Upbit, and Hana Group, a major South Korean financial conglomerate, to discuss Vietnam’s push toward a regulated digital asset framework. This meeting, marks a pivotal step in Vietnam’s crypto ambitions, following similar engagements with global exchanges like Binance and Bybit.

Dunamu and Hana Group shared insights from South Korea’s advanced crypto market, pledging to help Vietnam build a transparent and secure digital asset exchange. They committed to supporting blockchain technology development and fostering a robust legal environment to protect investors, aligning with Vietnam’s goal of achieving at least 8% economic growth in 2025. Prime Minister Chính emphasized collaboration with MB Bank, one of Vietnam’s largest commercial banks, to drive the digital economy through shared expertise and technology transfers.

This move builds on Vietnam’s broader regulatory efforts. In March 2025, the Ministry of Finance and SBV were directed to finalize crypto regulations by month’s end, with plans for a state-licensed digital currency exchange pilot, as announced by Deputy Minister Nguyễn Đức Chi.

However, Vietnam’s crypto scene operates in a legal gray area, with digital assets not yet recognized as property, fueling a “get-rich-quick” mindset among investors, as noted by RMIT’s FinTech-Crypto Hub. While the government’s proactive stance signals progress, the lack of specifics in current laws and potential bureaucratic hurdles could slow implementation. South Korea’s expertise, via Dunamu and Hana, could bridge this gap, but integrating global standards with Vietnam’s frontier market dynamics remains a challenge

What’s your take—will this partnership with Upbit and Hana fast-track Vietnam’s crypto hub ambitions, or could regulatory delays and market volatility hold it back?