Vietnam Regulates Crypto Market with Real-World Asset Tokenization
Vietnam is moving forward with its plans to regulate its cryptocurrency market, aligning with global trends towards stricter oversight and focused capital allocation. The country's government has issued Resolution No. 05/2025/NQ-CP, which establishes a strategic rule requiring crypto assets to be backed by real-world assets. This excludes securities and fiat currency, and these crypto assets can only be offered and issued to foreign investors.
Experts believe this approach links technology to the real economy, provides a basis for valuation, information disclosure, and auditing, and opens opportunities to digitize real estate, commodities, and agricultural products. Tran Quy, Director of the Vietnam Institute for Digital Economy Development and Chairman of MetaDAP Digital Asset Platform Company, noted that excluding securities and fiat money minimizes legal overlap with banking and securities laws while protecting monetary sovereignty.
The government's decision is expected to create a safe foreign investment channel for domestic enterprises and address capital shortages across various business sectors. According to forecasts from Boston Consulting Group (BCG), the global tokenized real-world asset market could exceed US$14,000 billion by 2030, presenting a substantial opportunity for Vietnam.