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Resolution No. 05/2025/NQ-CP provides detailed provisions on the offering, issuance, organization of trading markets, and provision of services related to crypto assets, as well as state management of this market.
Article 4 of the Resolution sets out the principles for piloting as follows:
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Caution and control: The pilot shall be implemented on a cautious and controlled basis, with an appropriate roadmap to ensure safety, transparency, and efficiency. The legitimate rights and interests of organizations and individuals participating in the market shall be protected.
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Compliance with law: The pilot must comply with Vietnamese law and treaties to which Vietnam is a party. In case of risks affecting the security and safety of the financial market, the Ministry of Finance is entitled to request the Government to decide on suspension, termination, or adjustment of the pilot activities.
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Foreign investors: Foreign investors must comply with Vietnamese law and the laws of the country in which such organization is established, unless such provisions are contrary to the fundamental principles of Vietnamese law.
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Information responsibility: Organizations and individuals participating in the market must ensure the accuracy, truthfulness, and completeness of disclosed information. Only entities licensed by the Ministry of Finance may provide services and advertise related to crypto assets.
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Risk prevention: Organizations and individuals must comply with regulations on anti-money laundering, counter-terrorism financing, and data protection to ensure security in the crypto trading market.
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Handling of violations: Any violation of law related to crypto assets shall be handled in accordance with criminal law or administrative law. The Ministry of Finance has the authority to suspend or terminate the activities of violating organizations.
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Transactions in Vietnamese dong: The offering, issuance, trading, and payment of crypto assets must be conducted in Vietnamese dong.
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Purpose of use: Crypto assets shall be used for exchange or investment purposes in accordance with the Resolution.
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Tax policy: Tax policy applicable to crypto asset transactions shall be applied as for securities until new regulations are issued.
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Dispute settlement: Disputes arising in the crypto trading market shall be settled through negotiation, mediation, or at the request of Arbitration or Vietnamese Courts.
According to Article 18, Resolution No. 05 takes effect on September 9, 2025. The pilot period shall last for five years from the effective date of the Resolution.
