Cryptocurrency pilot officially starts from September 9, businesses must have a charter capital of 10,000 billion VND

Deputy Prime Minister Ho Duc Phoc has just signed Resolution 05 of the Government on piloting the crypto asset market in Vietnam, effective from September 9.

A large number of Vietnamese users are participating in cryptocurrency investment - Photo: CONG TRUNG

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.

Pilot implementation of the principle of prudent and controlled management.

The pilot implementation of the cryptocurrency market will be carried out on the principles of prudence, control, a roadmap that is 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 market must ensure the accuracy, truthfulness, completeness, timeliness, and non-misleading nature of published information; comply with regulations on the issuance, trading, insider information, and intended use of crypto assets; and obtain a license from the Ministry of Finance .

The offering, issuance, trading, and payment of crypto assets must be conducted in Vietnamese Dong. The issuer of crypto assets must be a Vietnamese enterprise, registered as a limited liability company or a joint-stock company in accordance with the Enterprise Law.

Accordingly, crypto assets must be issued based on underlying assets that are real assets, excluding securities and fiat currency;

Crypto assets are only offered and issued to foreign investors;

Cryptocurrency assets can only be traded between foreign investors through cryptocurrency service providers licensed by the Ministry of Finance.

Domestic investors holding crypto assets and foreign investors are allowed 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.

What cryptocurrency asset services are offered?

Organizations providing cryptocurrency services are authorized to perform and offer the following services and activities: organizing cryptocurrency trading markets; proprietary trading of cryptocurrency; custody of cryptocurrency; and providing platforms for issuing cryptocurrency.

Cryptocurrency transactions must be conducted through cryptocurrency service providers licensed by the Ministry of Finance.

Accordingly, the conditions for providing cryptocurrency trading market organization services are that the enterprise must be Vietnamese and have a minimum contributed charter capital of 10,000 billion VND.

This also includes regulations regarding the conditions for shareholders and capital contributors, including having a business office, sufficient physical and technical facilities, office equipment, and technology systems suitable for providing crypto asset services;

The personnel requirements and business processes of the information technology system of an organization providing cryptographic asset services must meet Level 4 information technology system security standards as stipulated by law on information security before being put into operation and exploitation.

The resolution takes effect from September 9th. The pilot implementation period is 5 years from the date the resolution takes effect.

After the pilot period ends, the cryptocurrency market will continue to operate under this resolution until amended, supplemented, or replaced by relevant legislation.

NGOC AN

Source: https://tuoitre.vn/chinh-thuc-thi-diem-tien-ma-hoa-tu-9-9-doanh-nghiep-phai-co-von-dieu-le-10-000-ti-dong-20250909185656589.htm