The Vietnamese government is preparing regulations for a pilot market for crypto assets, initially open only to foreign investors. This information was reported by VietnamPlus.
The regulatory framework is based on government resolution No. 05/2025/NQ-CP, dated September 9, 2025. This document defines crypto assets, explicitly excluding securities and fiat currencies, and mandates that instruments within this model be backed by tangible assets.
Sources speaking to VietnamPlus believe that this initiative could provide Vietnamese businesses with a pathway to access global capital through the tokenization of products.
Tran Quy, director of the Vietnam Institute for Digital Economy Development and chairman of MetaDAP, has indicated that this model will help link digital technologies with the real economy while limiting speculative or "empty" tokens, thus simplifying asset valuation and disclosure.
He highlighted potential applications in sectors such as real estate, renewable energy, infrastructure, logistics, and agriculture.
Currently, Vietnam lacks a licensed cryptocurrency exchange. At the Vietnam RWA Summit 2026, a representative from the State Securities Commission announced that five companies have completed the initial assessment phase to establish such a platform. These firms must now meet information system security requirements and demonstrate a minimum capital of 10 trillion dong (approximately $383 million).
It is worth noting that in July, the Vietnamese government imposed fines for trading crypto assets outside of platforms licensed by the Ministry of Finance.