Vietnam Takes Bold Steps in Regulating Crypto Asset Market

The Vietnamese government has made significant strides in developing a safer and more regulated crypto asset market. According to Resolution No. 05/2025/NQ-CP, issued on September 9, 2025, the country will pilot a crypto asset market that excludes securities and fiat currencies, with a focus on tokenizing real-world assets such as renewable energy, infrastructure, logistics, and agriculture.

Dr. Tran Quy, Director of the Vietnam Institute for Digital Economy Development and Chairman of MetaDAP, believes this model will help link digital technology with the real economy, limiting speculative tokens and facilitating asset valuation and information disclosure.

The global market for tokenized real-world assets is predicted to exceed $14 trillion by 2030, according to Boston Consulting Group, offering Vietnam significant room for growth. However, experts warn that clearer regulations and deeper research into foreign investor preferences are needed to tap into this potential.

Five companies have passed the first assessment to develop exchanges, but they must meet Level 4 information-system security requirements and contribute at least $383 million in capital before receiving a license from the Ministry of Finance. The government has also issued Decree No. 284/2026/ND-CP, which outlines administrative penalties for violations involving crypto assets.