Crypto regulation in Vietnam

Legal with restrictions

As of 2026-06-21Last reviewed 2026-06-21

This is general information, not legal, tax, or financial advice. Verify the current rules with a qualified local professional and the official regulator before acting.

Crypto regulation in Vietnam now rests on three pillars. The Law on Digital Technology Industry, in force since 1 January 2026, recognises crypto assets as property. The State Bank of Vietnam (SBV) separately bans crypto as a means of payment. And Resolution No. 05/2025/NQ-CP, led by the Ministry of Finance (MOF), set up a five year pilot to license domestic crypto exchanges, which is not yet operating. There is no single crypto regulator, and several rules remain in draft as of 2026.

The Law on Digital Technology Industry

The central change is the Law on Digital Technology Industry, passed by the National Assembly on 14 June 2025 and in force from 1 January 2026. It defines digital assets for the first time and divides them into virtual assets and crypto assets, treating them as property under the Civil Code 2015. Neither category includes securities or digital fiat currency. By recognising these assets, the law gives a legal basis for ownership, taxation, and the treatment of crypto transactions, and it directs the government to set detailed business conditions along with cybersecurity and anti money laundering safeguards. The recognition is of crypto as an asset, not as money, which is the line that the State Bank of Vietnam continues to hold, as of 2026.

The State Bank of Vietnam and the payment ban

The State Bank of Vietnam (SBV) is the payments regulator and does not recognise crypto as a lawful means of payment. Under Decree No. 52/2024/ND-CP, which replaced Decree No. 101/2012/ND-CP, payment instruments not provided for by the SBV are illegal means of payment, which covers crypto used to settle transactions. Using crypto to pay can attract administrative fines of 150 million to 200 million dong under Decree No. 88/2019/ND-CP, and serious cases can fall under the Criminal Code. Only the Vietnamese dong is legal tender. Holding and trading crypto as an asset is not what this ban targets; the ban is specifically about crypto functioning as money, as of 2026.

Resolution 05/2025 and the exchange pilot

The market side of regulation runs through the Ministry of Finance (MOF). Resolution No. 05/2025/NQ-CP, issued on 9 September 2025, created a five year pilot for a licensed crypto asset market and a licensing regime for crypto asset exchanges. Reported conditions include a minimum charter capital of 10,000 billion dong, roughly 400 million US dollars, and a 49 percent cap on foreign ownership of a licensed operator. Licensing procedures opened in early 2026, the State Securities Commission is processing exchange licences, and a small number of Vietnamese applicants have been shortlisted. Officials have said the first official activity could begin around the third quarter of 2026. Until then, the licensed domestic market does not yet exist in practice, and foreign platforms remain outside the Vietnamese licensing perimeter.

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Regulator and sources

Law on Digital Technology Industry, National Assembly, passed 14 June 2025, in force 1 January 2026
State Bank of Vietnam (SBV), sbv.gov.vn, with Decree No. 52/2024/ND-CP and Decree No. 88/2019/ND-CP on the payment ban and penalties
Ministry of Finance (MOF), mof.gov.vn, and Resolution No. 05/2025/NQ-CP of 9 September 2025 on the crypto asset market pilot and exchange licensing
State Securities Commission, processing exchange licences under the pilot

Frequently asked questions

What law governs crypto in Vietnam?

The Law on Digital Technology Industry, passed on 14 June 2025 and in force from 1 January 2026, recognises digital assets, including crypto assets, as property. Payments are governed separately by the State Bank of Vietnam, and the exchange market by Resolution No. 05/2025/NQ-CP led by the Ministry of Finance.

Who is the crypto regulator in Vietnam?

There is no single regulator. The State Bank of Vietnam handles payments and bans crypto as a means of payment, the Ministry of Finance leads the crypto asset market and exchange pilot, and the State Securities Commission processes exchange licences under the pilot.

Is there a licensed crypto exchange in Vietnam?

Not yet operating. Resolution No. 05/2025/NQ-CP set up a five year licensing pilot, licensing procedures opened in early 2026, and a small number of Vietnamese applicants have been shortlisted. Officials expect the first official market activity around the third quarter of 2026.

What are the penalties for using crypto as payment in Vietnam?

Using crypto as a means of payment is prohibited. Administrative fines of 150 million to 200 million dong can apply under Decree No. 88/2019/ND-CP, and serious cases can attract criminal liability under the Criminal Code, as of 2026.

Vietnam is implementing several new instruments at once, and detailed rules under the Law on Digital Technology Industry and the exchange pilot are still being issued. The regulator roles, the licensed exchange list, and the treatment of foreign platforms can change. Confirm the current position with the State Bank of Vietnam, the Ministry of Finance, or a qualified local professional before acting.

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