Vietnam's Ministry Drafts Rules for Digital Asset Market Pilot
Vietnam's Ministry of Finance is drafting rules for a pilot digital asset market operation, with the government aiming to license the first eligible enterprises this year. Major financial players, including potential copilots, have shown interest. Despite no proposals yet, the Vietnam Blockchain Association (VBA) has suggested starting with secure assets like tokenized government bonds.
Vietnam officially legalized digital assets in July 2025. Estimates show around 17 million Vietnamese trade cryptocurrencies annually, with a volume exceeding $100 billion. The government seeks to shift this offshore activity to onshore, taxable channels.
The ministry is drafting decrees and regulations for the pilot market operation. It aims to license up to five participants, including potential copilots. While no specific companies have submitted proposals, several are preparing to enter the market. The VBA has suggested starting with highly secure and transparent assets, learning from Hong Kong and Thailand, and collaborating with international financial institutions.
The government's five-year crypto asset market pilot, launched with Resolution 05 in September 2025, is moving forward. With major players interested and the ministry drafting rules, Vietnam is poised to bring its digital asset market onshore, potentially attracting long-term capital flows.
