The pilot program for crypto assets began on September 9th.

Deputy Prime Minister Ho Duc Phoc has just signed and issued Resolution No. 5/2025 dated September 9th of the Government on the pilot implementation of the cryptocurrency market in Vietnam.

Caution, control

Accordingly, this Resolution shall take effect from September 9, 2025; the pilot implementation period is 5 years.

The resolution stipulates the pilot implementation of offering and issuing crypto assets, organizing the crypto asset trading market and providing crypto asset services; and state management of the crypto asset market in Vietnam.

The entities eligible for the pilot program include: organizations providing crypto asset services; organizations issuing crypto assets; Vietnamese and foreign organizations and individuals investing in crypto assets and operating in the crypto asset market in Vietnam within the scope stipulated in this Resolution.

The pilot program for cryptocurrency assets began on September 9th.

The resolution states: The pilot implementation of the cryptocurrency market must be carried out on the principles of prudence, control, a roadmap appropriate to practical realities, safety, transparency, efficiency, and protection of the legitimate rights and interests of organizations and individuals participating in the cryptocurrency market.

Organizations and individuals participating in the cryptocurrency market are responsible for ensuring the accuracy, truthfulness, completeness, timeliness, and non-misleading nature of published information; and for complying with regulations regarding the issuance, trading, insider information, and intended use of cryptocurrency assets.

Only organizations licensed by the Ministry of Finance to provide cryptocurrency trading market services are permitted to conduct activities related to cryptocurrency services and advertising and marketing related to cryptocurrency.

Organizations and individuals participating in the cryptocurrency market must comply with relevant laws and regulations on anti-money laundering, terrorist financing, financing of weapons of mass destruction proliferation, electronic transactions, network information security, cybersecurity, data protection to ensure security and safety in the cryptocurrency market, and other relevant specialized laws.

The offering, issuance, trading, and payment of crypto assets must be conducted in Vietnamese Dong.

Crypto assets may be used for exchange or investment purposes as stipulated in this Resolution.

Tax policies for transactions, transfers, and trading of crypto assets will be applied in the same way as tax regulations for securities until a tax policy for the crypto asset market in Vietnam is established.

It can only be offered and issued to foreign investors.

Regarding the conditions for offering and issuing crypto assets, the Resolution clearly states: The issuer of crypto assets must be a Vietnamese enterprise, registered to operate as a limited liability company or a joint-stock company in accordance with the Enterprise Law.

Crypto assets must be issued based on underlying assets that are real assets, excluding securities and fiat currency.

The resolution also stipulates that crypto assets may only be offered or issued to foreign investors. Crypto assets may only be traded between foreign investors through crypto asset service providers licensed by the Ministry of Finance.

At least 15 days before conducting the offering or issuance, the issuer of the cryptocurrency asset must publish information about the prospectus for the offering or issuance of the cryptocurrency asset.

The resolution states: Domestic investors holding crypto assets and foreign investors are permitted to open accounts at crypto asset service providers licensed by the Ministry of Finance to deposit, buy, and sell crypto assets in Vietnam.

After a period of 6 months from the date the first cryptocurrency service provider is licensed, domestic investors trading cryptocurrencies without going through a cryptocurrency service provider licensed by the Ministry of Finance will be subject to administrative penalties or criminal prosecution according to the law, depending on the nature and severity of the violation.

After the pilot period ends, the cryptocurrency market will continue to operate in accordance with this Resolution until amended, supplemented, or replaced by relevant legal regulations.

tienphong.vn

Source: https://baolaocai.vn/bat-dau-thi-diem-tai-san-ma-hoa-tu-ngay-099-post881684.html