The Vietnamese government launches a cryptoasset pilot program that will run until 2030.

The Vietnamese government has launched a cryptoasset pilot program until 2030 to regulate and encourage innovation in blockchain and digital finance.

Vietnam recently approved the Resolution 5/2025/NQ-CP, which is implementing a pilot program to regulate the issuance, marketing, and custody of digital assets over the next five years. 

This plan, which will be in effect until 2030, represents an important step forward in the country's digital strategy, creating a clear legal framework for a sector that until now had operated in a poorly defined space.

Vietnam prepares a regulatory framework for the digital market

Resolution No. 5/2025/NQ-CP was recently approved by the country's Deputy Prime Minister, Ho Duc Phoc, marking the Vietnamese government's first formal step toward creating a legal framework to regulate the cryptoasset ecosystem.

Vietnam's official newspaper emphasizes that, until now, cryptocurrency transactions in the country were conducted through P2P platforms and international exchanges without clear regulation. However, with this new regulation, the country establishes precise rules for the issuance, trading, and custody of these assets, defining responsibilities and conditions for those participating in the market.

The pilot program is based on three fundamental pillars: transparency, efficiency and protection of rights, with the intention of evaluating the viability of a regulated cryptoasset market. 

Within the framework of this pilot planOnly Vietnamese companies incorporated as limited liability companies or joint stock companies will be allowed to issue and operate these assets. All transactions must be conducted in the local currency, the Vietnamese dong. Furthermore, digital assets must be backed by real assets, excluding securities and fiat currencies, reinforcing a model focused on stability and tangible backing.

On the other hand, the plan defines that the supervision and control of the program will fall on the Ministry of Finance, which will have the authority to grant licenses, monitor operations, and apply sanctions when necessary. It also emphasizes that authorized platforms must comply with strict technological standards in cybersecurity, implement rigorous internal controls, and demonstrate institutional strength. 

In short, this pilot has been designed to create a safe and trusting environment for both national and international cryptocurrency operators, thus laying the groundwork for more comprehensive regulation in the future.

The regional context: between innovation and strategic regulation 

The launch of the pilot program in question comes at a strategic time for Southeast Asia, a region that has established itself as a focal point for the adoption of crypto technologies. 

While countries like Singapore, the Philippines, and Thailand are exploring different regulatory avenues, from full licensing to partial controls, Vietnam is choosing a middle path that seeks to combine progressive regulation with room for innovation.

By limiting the issuance of cryptoassets to local companies and targeting their offerings exclusively to foreign investors, the country shows a clear intention to attract external investment, while maintaining careful management within its borders. This strategy has the potential to turn Vietnam into a regulated hub for digital asset trading, especially if this program manages to demonstrate solid and consistent results. Furthermore, the adoption of NDAChain, the national blockchain designed for digital identity and government records management, underlines its commitment to developing its own decentralized infrastructure.

The pilot program also fits into Vietnam's ambition to get off the Financial Action Task Force (FATF) "grey list"To achieve this, it integrates rigorous oversight, clear AML/KYC protocols, and state oversight, aligning with the international standards required by regulatory bodies. 

Therefore, beyond regulating the domestic market, this pilot program also seeks to position Vietnam as a serious and committed player in the global digital financial landscape.

Building a crypto lab to lead innovation in Web3

Vietnam's pilot program, which runs until 2030, will serve as a regulatory laboratory for experimenting with cryptoassets and developing an appropriate regulatory framework. 

At the end of the 5-year period, the Ministry of Finance will conduct a comprehensive evaluation of the results obtained. The idea is to carefully assess how the ecosystem is evolving, and then decide whether this model can be permanently integrated into the country's legislation.

Currently, Vietnam already has a very active developer community, responsible for important projects such as Axie Infinity, Kyber Network and Pendle, which boosts its potential to become a benchmark for technological innovation. 

Therefore, if the program succeeds and builds a solid regulated ecosystem, Vietnam could become a key hub for Web3's expansion throughout Asia. Beyond being a mere test, this pilot program marks the beginning of a profound transformation in the country's digital economy.