Vietnam is set to launch a trial market for crypto assets, initially for foreign investors, under a new regulatory framework.
The Vietnamese government is moving forward with plans for a pilot market dedicated to crypto assets, initially targeted at foreign investors, according to VietnamPlus.
These developments are outlined in a regulatory framework stemming from government resolution No. 05/2025/NQ-CP, issued on September 9, 2025. The framework specifically defines crypto assets while excluding traditional securities and fiat currencies, requiring that the designated instruments be underpinned by tangible assets.
Insights shared with VietnamPlus suggest that this initiative could enable Vietnamese enterprises to access international capital markets through the tokenization of their offerings.
Tran Quy, who is the director of the Vietnam Institute for Digital Economy Development and the chairman of MetaDAP, emphasized that the new model aims to connect digital technologies with the real economy, while also mitigating risks associated with speculative tokens. This approach is expected to enhance asset valuation and promote transparency in disclosures.
He pointed to diverse potential applications in industries such as real estate, renewable energy, infrastructure, logistics, and agriculture.
Currently, Vietnam does not have any licensed cryptocurrency exchanges. At the recent Vietnam RWA Summit 2026, a representative from the State Securities Commission revealed that five companies have passed the first assessment stage for establishing a licensed platform. These companies now need to ensure compliance with information system security standards and maintain a minimum capital requirement of 10 trillion dong (around $383 million).
Additionally, it is important to note that in July, the Vietnamese government imposed penalties for trading crypto assets on unlicensed platforms that lack approval from the Ministry of Finance.
