How is crypto regulated in Vietnam?

Crypto regulation in Vietnam is new and still being built. A 2025 law recognised digital assets for the first time, and a government resolution set up a five-year pilot market in which only licensed Vietnamese companies may run exchanges. Whether individuals can own and trade crypto is answered in is crypto legal in Vietnam.

What does the Vietnam digital technology industry law say about crypto?

The National Assembly passed the Law on Digital Technology Industry in June 2025, and it took effect on January 1, 2026. Vietnam Briefing says it recognised digital assets as property under the Civil Code, so they can be owned, transferred, inherited and protected. Tuoi Tre News reported that the law also gives tax authorities a legal basis to build tax policy for digital assets, which led to the rules in how crypto is taxed in Vietnam.

The law sets the frame, and the details sit in government documents. The most important is Resolution 05/2025/NQ-CP of September 9, 2025, which created the pilot market. It defines crypto assets as digital assets secured by encryption and excludes securities and digital fiat money.

Who regulates crypto in Vietnam?

Several agencies share the work, according to Vietnam Briefing:

• Ministry of Finance. The lead authority, which issues exchange licences.
• State Securities Commission. Receives applications and runs a board for the digital asset trading market.
• State Bank of Vietnam. Checks capital and ownership, and keeps its long-standing ban on crypto as a means of payment.
• Ministry of Public Security. Carries out security vetting and oversees cybersecurity rules.

Applicants must be Vietnamese companies with at least VND10 trillion in charter capital, at least 65% held by institutions such as banks and securities firms, and foreign ownership capped at 49%. They also need top-level information security certification and must trade only in dong.

How does the Vietnam crypto exchange pilot work in practice?

The Ministry of Finance began accepting applications on January 20, 2026. In March 2026 Cointelegraph, citing Reuters, reported that five firms had passed a first qualification round, including affiliates of Techcombank, VPBank and LPBank. As of August 31, 2026, VietNamNet reported that no exchange had been licensed.

Six months after the first licence, domestic investors must trade only through licensed providers. Decree 284/2026/ND-CP, issued on July 16, 2026 and in force since September 1, sets administrative penalties. Its Article 9 fines domestic investors VND30 million to VND50 million for trading outside a licensed provider, though an official said fines would not be automatic from that date. Firms that serve customers in this market act as a virtual asset service provider would elsewhere. For other countries' approaches, see crypto regulation around the world.

Rules differ by country and change often. Check the Ministry of Finance or a qualified professional for your own situation.