Latest Update: Vietnam Launches Landmark Crypto
Regulation Pilot to Oversee $220 Billion Digital Asset Market
Vietnam has officially launched a five‑year pilot program
to regulate its fast‑growing crypto asset market, valued at more than US$220
billion. The initiative, enacted under Resolution No. 05/2025/NQ‑CP,
marks a historic step in providing legal clarity for digital asset trading,
issuance, and services in the country.
- Resolution
No. 05/2025/NQ‑CP: Issued on September 9, 2025, the resolution
establishes a framework for the pilot implementation of the crypto
asset market.
- Duration:
The pilot will run for five years, after which the government will
review and potentially formalize regulations.
- Scope:
Licensed providers may offer four categories of services:
- Organizing
crypto trading markets.
- Proprietary
trading in crypto assets.
- Depository
services for crypto assets.
- Platforms
for crypto asset issuance.
- Currency
Requirement: All crypto trading and payment activities must be
conducted in Vietnamese Dong, ensuring alignment with national
monetary policy.
- Oversight:
Only organizations licensed by the Ministry of Finance can provide
crypto services, with strict compliance and penalties for violations.
Market Context
- Vietnam
ranks among the top three countries in Asia‑Pacific for crypto
transaction volume, with holdings estimated at US$18 billion and
projected to grow to US$48–109 billion by 2030 depending on
regulatory openness.
- The
pilot program comes amid global efforts to regulate digital assets,
positioning Vietnam as a regional leader in blockchain adoption.
- Foreign
investors must comply with both Vietnamese law and their home
jurisdictions, reinforcing international accountability.
Implications
- For
Investors: Greater legal certainty may attract institutional players
and boost confidence in Vietnam’s crypto ecosystem.
- For
Businesses: Licensed exchanges and service providers can expand
offerings under government oversight.
- For
Regulators: The pilot provides a controlled environment to monitor
risks such as money laundering, fraud, and market volatility.
Vietnam’s launch of a landmark crypto regulation pilot
signals its intent to balance innovation with oversight. By formalizing rules
for trading, issuance, and custody, the country is positioning itself as a key
hub for digital assets in Southeast Asia. The next five years will be
critical in shaping Vietnam’s role in the global crypto economy.
