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| Ha Duy Tung, vice chairman of the SSC |
At the MoF's regular third-quarter press conference on October 3, Ha Duy Tung, vice chairman of the State Securities Commission (SSC), said that under Resolution No.05/2025/NQ-CP, the government has approved a sandbox mechanism for testing crypto-asset activities. The initiative aims to protect the legal rights of participants while paving the way for healthy market development.
"The SSC is currently drafting guidance on licensing procedures, eligibility criteria, and processes for adjusting or revoking licences for providers of digital asset services. However, as of now, no companies have submitted registration applications," said Tung.
Deputy Minister of Finance Nguyen Duc Chi added that the ministry issued an implementation plan for Resolution 05, including various aspects such as tax policies, tax management, and accounting standards.
"Specific tasks have been assigned to relevant units, with coordination from the SSC and other concerned agencies," Chi said, before adding that some enterprises have shown interest and are currently engaging at a technical level to prepare the necessary conditions for formal registration in the near future.
The deputy minister explained that the MoF is working to issue detailed regulations as soon as possible, in collaboration with the State Bank of Vietnam and related authorities, to ensure proper evaluation of submitted applications. The objective is to create an open, transparent, and legally compliant environment for enterprises to participate in the digital asset market, while also contributing to the growth of Vietnam’s capital market.
"The development of the securities market, including the cryptoasset market, is a shared responsibility of all stakeholders. Our long-term goal is to build a transparent, modern, and sustainable market that effectively supports the economy and businesses in capital mobilisation," said Deputy Minister Chi.
The National Assembly passed the Law on Digital Technology in June, which will take effect in January. The law recognises digital assets, including two main categories: cryptoassets and virtual assets.
These assets are not classified as legal tender, securities, central bank digital currencies, or any financial instruments governed by existing financial laws.
The law empowers the government to establish detailed rules on business licensing, exchange operations, custody services, data protection, anti-money laundering, and counter-terrorism financing.
Resolution 05, issued in September, launched a five-year pilot for Vietnam’s cryptoasset market. The programme covers offering and issuing cryptoassets, operating trading platforms, providing crypto-related services, and state oversight of such activities.
The resolution also sets out a licensing framework for crypto-exchanges and digital asset service providers, representing the country’s most concrete move yet toward legalising and supervising the crypto-economy.
 | Multiple barriers hinder fintech development in Vietnam Vietnam's fintech sector has strong growth prospects but remains constrained by gaps in regulation, funding shortages, and cybersecurity risks. |
 | Preparing to make most of a billion-dollar market in 2026 Starting in 2026, a new legal framework will pave the way for local enterprises to join the billion-dollar cryptoasset market. Bach Nghiem, co-founder of Vietnamese-developed ATX, talked to VIR’s Hoang Oanh about strategies for domestic exchanges to break through and compete equally with international counterparts. |
 | Vietnamese trade over $600 million in crypto daily Vietnam is among the top five crypto markets in Asia-Pacific, with on-chain transaction value estimated at $220-230 billion between July 2024 and June 2025, averaging more than $600 million per day. |
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