Vietnam Pilots Crypto Asset Market with Five Firms Passing Exchange Evaluation

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Vietnam is testing its cryptocurrency asset classification system by launching a pilot market under strict cryptocurrency exchange regulations. Five firms have passed initial exchange reviews and must comply with Level 4 security standards and post $383 million (10 trillion VND) in capital. The initiative aims to create new funding avenues while safeguarding investors.

PANews, August 30: According to the Vietnam News Agency, Vietnam is piloting a cryptocurrency asset market under a cautious regulatory framework, aiming to open financing channels while strengthening investor protection. Government Resolution No. 05, issued in September 2025, explicitly requires that cryptocurrency assets be backed by RWA, excluding securities and fiat currencies, and initially limits issuance to foreign investors. Five companies have already passed preliminary exchange evaluations and must meet Level 4 security requirements while committing at least 10 trillion Vietnamese dong (approximately $383 million). Decree No. 284, enacted in July, will impose penalties on unlicensed platforms starting September 1; domestic investors may only transact through licensed service providers six months after the first licensed entity receives a license from the Ministry of Finance.

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