Vietnam pilot cryptocurrency market, 5 companies pass preliminary evaluation

According to the Vietnam News Agency, Vietnam is piloting a cryptocurrency market through a prudent regulatory framework, initially only for foreign investors. The Government Resolution No. 05 issued in September 2025 stipulates that cryptocurrency assets must be supported by RWA, excluding securities and fiat currencies. At present, 5 companies have passed the preliminary evaluation of the exchange and need to meet Level 4 security requirements and invest at least 10 trillion Vietnamese dong (approximately 383 million US dollars). The No. 284 Law, issued in July, will impose penalties on unlicensed platform trading behavior starting from September 1st. Domestic investors must obtain a license issued by the Ministry of Finance for six months before they can trade through licensed service providers.