Vietnam has initiated a comprehensive five-year digital asset market pilot program with stringent participation requirements, limiting foreign investment to minority stakes while requiring transactions in local currency.
Deputy Prime Minister Ho Duc Phuc signed into law a resolution kicking off the pilot implementation of a comprehensive digital asset market pilot program in Vietnam on Sept. 9.
The new program is scheduled to run for five years and will place strict requirements on participation, limiting involvement to only certain domestic institutions and barring foreign investors from holding shares greater than a minority position.
According to an official post in the Government Electronic Newspaper, the purpose of the pilot program is to facilitate the implementation of “the offering and issuance of digital assets, the organization of the digital asset trading market and the provision of digital asset services,” as well as establishing state management of the digital asset market in Vietnam.
𝗝𝗨𝗦𝗧 𝗜𝗡: 🇻🇳 Vietnam approves five-year trial program for crypto trading platforms.
Asia is gearing up fast for the crypto wave. pic.twitter.com/6fvdKSCToK
— Lark Davis (@TheCryptoLark) September 9, 2025
Vietnam Sets Foreign Investment Limits, Requires Financial Institution Backing
Participation will be limited to organizations licensed by the Ministry of Finance to provide services, and all services must be provided in the local currency, limiting all purchasing, selling, and trading to transactions conducted via the Vietnam dong.
The charter also states that participants must have contributed charter capital of at least $378,500, and all assets must be underwritten by the charter and any additional treasuries necessary for full backing.
Foreign investors will be capped at 49% of shares in a given endeavor and, according to the post, at least 65% of the aforementioned charter capital must be contributed by registered shareholders and members, and at least 35% of the charter capital must be contributed by commercial banks, securities companies, fund management companies, insurance companies, and enterprises operating in the field of technology.
As Coinspeaker previously reported, the pilot program was announced in March 2025 with the intent of creating a legal framework for the deployment of digital asset services in the country. Shortly thereafter, in June, Vietnam launched an official state blockchain program with a focus on digital identity and maintaining immutable records.
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