While Vietnam is still in the process of studying, considering, and shaping its approach to digital asset management, the other five countries in the ASEAN-6 group (Singapore, Thailand, Indonesia, Malaysia and the Philippines) have already made significant progress In recent years, the world has witnessed an explosion of cryptocurrencies and countless other forms of digital assets. Initially, this may have seemed like a trend driven by high-risk investors. However, this wave has now permeated numerous sectors of the global economy, closely linking itself to macroeconomics, monetary sovereignty, tax policy, financial security, and even national security. Recently, Party General Secretary To Lam expressed concerns over Vietnam’s slow progress in establishing a legal framework for new financial models, including the regulation of digital currencies and other digital assets. While Vietnam remains in the preliminary stage of research and assessment, the other five ASEAN-6 nations have already made significant strides. Singapore has successfully established itself as a leading hub for technological innovation, particularly in financial technology (FinTech) and blockchain. The country’s enactment of the Payment Services Act in 2019, which took effect in early 2020, has positioned Singapore as one of Asia’s key centers for the digital asset industry. This legislation clearly defines […]