Vietnam Pilots Crypto Asset Market, 5 Companies Pass Preliminary Exchange Assessment

August 30 news, according to the Vietnam News Agency, Vietnam is piloting a crypto asset market under a prudential regulatory framework, strengthening investor protection while opening financing channels. Government Resolution No. 05 issued in September 2025 clarifies that crypto assets must be backed by RWA, excluding securities and fiat currencies, and will initially be offered only to foreign investors. Currently, 5 companies have passed preliminary exchange assessments and must meet Level 4 security requirements and contribute at least 10 trillion Vietnamese dong (approximately $383 million). Decree No. 284 issued in July will impose penalties on trading activities on unlicensed platforms starting September 1, and domestic investors may trade through licensed service providers only six months after the first company obtains a license from the Ministry of Finance.