Deputy Prime Minister Ho Duc Phoc has just signed and issued Resolution No. 5/2025/NQ-CP dated September 9, 2025 of the Government on the pilot implementation of the cryptocurrency asset market in Vietnam.
This Resolution stipulates the pilot implementation of offering and issuing encrypted assets, organizing a market for trading encrypted assets and providing encrypted asset services; state management of the digital asset market in Vietnam.
The subjects of the pilot include: Organizations providing cryptographic asset services; organizations issuing cryptographic assets; Vietnamese organizations and individuals and foreign organizations and individuals participating in investing in cryptographic assets and operating in the cryptographic asset market in Vietnam within the scope of this Resolution.
The pilot implementation of the cryptocurrency asset market is carried out on the principle of caution, control, having a roadmap in accordance with practice, safety, transparency, efficiency, protecting the legitimate rights and interests of organizations and individuals participating in the cryptocurrency asset market.
Organizations and individuals participating in the cryptocurrency asset market are responsible for ensuring the accuracy, honesty, completeness, timeliness, and no misunderstanding of the published information; complying with regulations on the issuance, transaction, internal information, and purpose of use of cryptocurrency assets. Only organizations licensed by the Ministry of Finance to provide services to organize the market for trading in cryptocurrency assets are allowed to provide services related to cryptocurrency assets and advertising and marketing related to cryptocurrency assets.
Organizations and individuals participating in the cryptocurrency asset market must comply with relevant legal regulations on money laundering prevention, combating terrorism, sponsoring the dissemination of weapons of mass destruction, electronic transactions, network information security, network security, data protection to ensure security and safety in the cryptocurrency asset market and other relevant specialized laws.
The offering, issuance, transaction, and payment of cryptocurrency assets must be made in Vietnamese Dong.
cryptocurrency assets are used for exchange or investment purposes according to the provisions of this Resolution.
Tax policies for transactions, transfers, and trading of cryptocurrency assets are applied as regulations on tax on securities until there is a tax policy for the cryptocurrency asset market in Vietnam.
Regarding the conditions for offering and issuing encrypted assets, the Resolution clearly states: The organization issuing encrypted assets is a Vietnamese enterprise, registered to operate as a limited liability company or a joint stock company under the Enterprise Law.
cryptocurrency assets must be issued based on assets that are real assets, excluding assets that are securities or legal documents.
The Resolution also stipulates: cryptocurrency assets are only offered for sale and issued to foreign investors.
cryptocurrency assets are only traded between foreign investors through organizations providing cryptocurrency assets licensed by the Ministry of Finance.
This Resolution takes effect from September 9, 2025; the pilot implementation period is 5 years.
