Vietnam -- Regulatory Status Regulatory Overview
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Vietnam has legalized and formally regulated cryptocurrency, transitioning from a grey zone to a structured regulatory framework effective January 1, 2026[1][4].
Regulatory Approach
Vietnam's approach is comprehensive and permissive within strict parameters. Digital assets are now formally recognized as property under the Civil Code[5], with the government establishing a pilot regulated market rather than implementing a ban or partial restrictions[1][3].
Primary Regulatory Bodies
Multiple agencies share oversight responsibilities[3]:
- Ministry of Finance (MOF) – Lead regulatory authority responsible for developing the legal framework and issuing licensing procedures
- State Securities Commission (SSC) – Co-regulatory body reviewing licensing applications
- State Bank of Vietnam (SBV) – Central bank ensuring financial stability and preventing crypto use as payment
- Ministry of Public Security (MPS) – Safeguarding cybersecurity and financial integrity
- Ministry of Justice (MOJ) – Providing legal analysis and policy recommendations
Key Legislation
| Legislation | Date | Purpose |
|---|---|---|
| Law on Digital Technology Industry (No. 71/2025/QH15)[1][4] | Passed June 14, 2025; Effective January 1, 2026 | Establishes legal foundation recognizing digital assets, categorizing them as virtual or crypto assets; excludes securities and digital fiat currencies |
| Resolution No. 05/2025/NQ-CP[3] | Issued September 9, 2025 | Introduces first formal licensing regime for cryptocurrency exchange operators with five-year pilot framework |
| Decision No. 96/QĐ-BTC[2] | Issued January 2026 | Formally launches pilot implementation of regulated crypto-asset market with licensing procedures for trading platforms |
Crypto Trading and Exchanges
Current Stance: Cryptocurrency exchanges are permitted only through licensed operators[2]. The regulatory framework includes[6]:
- Minimum charter capital requirement of 10 trillion Vietnamese dong (~$400 million)
- Foreign ownership capped at 49%, with 65% minimum institutional ownership required
- Mandatory anti-money laundering and cybersecurity compliance[1]
- Strict governance standards and information disclosure requirements
Market Status: At least five firms have qualified for exchange licenses, including affiliates of major Vietnamese banks (Techcombank, VPBank, LPBank) and financial entities like VIX Securities and Sun Group[6]. The first licensed exchanges are expected to launch as early as March 2026[6].
The regulations explicitly prohibit the use of cryptocurrency as a means of payment[1], maintaining the State Bank's historical position while permitting regulated trading and custody services.
Source Data
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