Index
ToggleOn September 9, 2025, the Vietnamese Government officially issued Resolution No. 05/2025/NQ-CP signed by Deputy Prime Minister Ho Duc Phoc, allowing the pilot implementation of the crypto asset market in the next 5 years . This is considered an important step in paving the way for the new but potentially risky field of financial technology.
According to the Resolution, the pilot activities include issuance, offering, trading and providing services related to crypto assets. The Ministry of Finance will play a leading Vai , providing comprehensive supervision, to ensure the principles of safety - transparency - investor protection . A notable point is that all transactions must be made in Vietnamese Dong , not using foreign currencies or popular cryptocurrencies today.
Outstanding regulations in the pilot phase
Only Vietnamese enterprises (LLC or joint stock companies) are eligible to issue crypto assets.
Crypto assets must be backed by real assets , not securities or fiat currencies.
Foreign investors are only allowed to transact through licensed legal service providers .
After 6 months from the date the first business is licensed, all unofficial transactions will be strictly handled according to the law.
Scams flare up after Resolution is announced
Immediately after the Resolution was issued, many people took advantage of public attention to spread false information. They created groups, inviting people to invest in cryptocurrencies such as Bitcoin, Ethereum or "strange" coins, claiming to be "legalized" or "licensed by the State".
In Nghe An, the Provincial Police have affirmed: Currently, there is no licensed crypto-asset trading floor operating in Vietnam . Resolution 05/2025/NQ-CP is only a pilot policy and is still in the preparation stage for implementation.
Notably, the current 2015 Civil Code does not recognize cryptocurrencies as legal assets (Article 105). This means that if a dispute or fraud occurs, investors will have difficulty getting their rights protected by law.
Sophisticated fraud schemes are increasingly widespread.
Current scams do not stop at inviting investments with "huge profits, zero risk", but also extend to:
Forging documents with agency seals to create trust.
Create fake trading applications and websites , designed exactly like reputable international exchanges.
Organizing illegal events and seminars to promote "ghost" projects.
Take advantage of crowd psychology when spreading news about the global development of cryptocurrencies.
This makes many people, especially F0 investors, easily fall into traps, leading to unjust loss of money.
Warning from authorities
Police advise people:
Do not trust invitations to join projects that are promoted as “legalized” or “licensed exchanges”.
You should only invest when there is a complete legal framework and transparent information from the authorities.
When detecting suspicious signs, it is necessary to immediately report to the police for timely handling.
