Vietnam has launched a state managed by the State to allow the supply, emission and trade of cryptographic assets according to strict rules. The resolution comes into force on September 9, 2025 and will take place for five years.
Depending on the text text, the program limits closely which can issue tokens, which can manage trade markets, and how foreign and national investors can participate.
Vice-Prime Minister of Vietnam, HO Duc Phoc, signed the resolution that defines a framework for the program and trade in cryptographic assets, the Vietnam electronic electronic newspaper reported on Tuesday.
High capital and institutional rules
Organizations wishing to manage the Crypto trade markets must respond to high capital and property tests. The resolution establishes a minimum charter capital of 10,000 billion Vietnamese Dong.
At least 65% of this charter capital must be held by organizations, and more than 35% must be held by at least two institutions such as commercial banks, securities companies, fund managers, insurance companies or technological companies.
The foreign property of approved providers is capped at 49%. The leadership and staff rules are also strict: the managing director must have two years of relevant experience and the director of technology must be five years old, indicates the resolution.
Companies must employ at least 10 employees in technology stations with certified network safety training and at least 10 employees with securities practice certificates. The Infotech system must comply with level 4 information security standards before it is put online.
Asset backing and access to investors
Based on the reports, the tokens issued in the pilot must be supported by real underlying assets. Fiduciary titles and currencies are not authorized as underlying active ingredients. The offers can be sent to foreign investors, and trade between foreign investors must occur through service providers authorized by the Ministry of Finance.
Emitters are required to publish a prospectus and related documents at least 15 days before an offer. Participants are responsible for ensuring that public information is accurate and timely.
Authorized services and risk controls
Approved cryptocurrency service providers will be authorized to organize the commercial markets, to offer custody, to exploit emission platforms and to perform in the rules. Service providers must have clear processes for risk management, deposit and asset management, transaction and payment flows, LMA / CFT checks and monitoring of funding for weapons of mass destruction.
Internal control and transactions monitoring systems must be in place, as well as procedures for managing conflicts of interest, complaints and customer compensation, according to resolution.
Trade and penalties
National investors can open accounts with approved providers to deposit, buy and sell cryptographic assets. But six months after the first Crypto-Aset service provider is authorized, any national trade that bypasses approved platforms will face administrative sanctions or criminal proceedings depending on the gravity of the violation.
Felash star image, tradingView graphic
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