Vietnamese authorities are preparing regulations for a pilot crypto asset market. Initially, issuance and offerings will be available only to foreign investors, according to VietnamPlus.
The regulation is based on government resolution No. 05/2025/NQ-CP dated September 9, 2025. The document excludes securities and fiat currencies from the category of crypto assets and requires that instruments within the model be backed by real assets.
Sources from VietnamPlus believe this could provide Vietnamese businesses with a channel to access global capital through the tokenization of products.
According to Tran Quy, Director of the Vietnam Institute of Digital Economy Development and Chairman of MetaDAP, the model will help connect digital technologies with the real economy while limiting speculative or “empty” tokens and simplifying asset valuation and information disclosure.
Potential applications include real estate, renewable energy, infrastructure, logistics, and agriculture.
Currently, there is no licensed crypto exchange in Vietnam. At the Vietnam RWA Summit 2026, a representative of the State Securities Commission stated that five companies have passed the first evaluation stage to establish such a platform. They must now meet information system security requirements and confirm capital of at least 10 trillion dong (~$383 million).
In July, the Vietnamese government imposed fines for trading crypto assets outside platforms licensed by the Ministry of Finance.
