Unauthorized crypto transactions outside the official system may face criminal prosecution

This is provided in Resolution No. 05/2025/NQ-CP of the Government on piloting the crypto trading market in Vietnam, promulgated on September 9, 2025.
Article 7 of Resolution No. 05/2025/NQ-CP stipulates on the organization of the crypto trading market as follows:

Domestic investors currently holding crypto assets and foreign investors may open accounts at crypto asset service providers licensed by the Ministry of Finance to deposit, purchase, and sell crypto assets in Vietnam.

After six months from the date the first crypto asset service provider is licensed, domestic investors conducting crypto asset transactions without going through crypto asset service providers licensed by the Ministry of Finance shall, depending on the nature and seriousness of the violation, be subject to administrative sanctions or criminal prosecution in accordance with law.

In addition, crypto asset service providers licensed by the Ministry of Finance to provide services for organizing the crypto trading market may carry out activities and provide services as prescribed. All crypto asset transactions must be conducted through crypto asset service providers licensed by the Ministry of Finance.

Pursuant to Article 18, the pilot implementation of the crypto trading market in Vietnam shall begin on September 9, 2025. The pilot period shall last for five years from the effective date of the Resolution.