Vietnam is piloting a crypto asset market under a prudential regulatory framework, according to Vietnam News Agency, with the stated aim of opening funding channels while strengthening investor protection. Under Government Resolution No. 05, issued in September 2025, crypto assets must be backed by real-world assets (RWA). Securities and fiat currency are excluded, and the initial phase of issuance is limited to foreign investors only. As part of the pilot, five companies have so far passed preliminary evaluations through exchanges, and they are required to meet Level 4 security requirements and contribute at least VND 10 trillion, roughly $383 million. In a separate move, Decree No. 284, published in July, will impose penalties on trading done through unlicensed platforms starting September 1. Domestic investors, meanwhile, will be allowed to trade through licensed service providers only after the first provider has held a licence from the Ministry of Finance for six months.
Vietnam is testing a crypto asset market under a prudential regulatory framework, Vietnam News Agency reported. The idea is simple: open new funding channels, but tighten investor protection at the same time.
Government Resolution No. 05, issued in September 2025, says crypto assets have to be backed by real-world assets (RWA). Securities and fiat currency are not included. And the first phase? Open only to foreign investors. So far, five companies have cleared preliminary evaluations through exchanges; they are required to meet Level 4 security standards and put in at least VND 10 trillion (around $383 million).
Decree No. 284, issued in July, will bring penalties for trading on unlicensed platforms starting September 1. Domestic investors, though, will be allowed to trade through licensed service providers only six months after the first provider gets a licence from the Ministry of Finance.
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