Vietnam Establishes a Five-Year Pilot for a Regulated Crypto-Asset Market
Vietnam issued Resolution 05/2025/NQ-CP, creating a five-year pilot framework for crypto-asset issuance, trading, service providers, investor participation, and state supervision. The framework materially changed the legal environment in which Bitcoin-related businesses and users could operate in Vietnam.
On September 9, 2025, the Vietnamese government issued Resolution 05/2025/NQ-CP establishing a pilot crypto-asset market. The resolution created a formal framework covering crypto-asset issuance, organized trading markets, service providers, investor participation, and government oversight. It was designed as a five-year pilot rather than a permanent final regime.
The resolution was not Bitcoin-specific and should not be described as a Bitcoin law. Its relevance to Bitcoin lies in the market infrastructure it governed. Exchanges, custody and related service providers are the channels through which Vietnamese users can acquire, sell, or hold Bitcoin, and bringing those activities inside a licensing and supervision framework materially changes the conditions of access. The resolution also addressed participation by both Vietnamese and foreign persons and organizations.
Vietnam had long been notable for high levels of digital-asset use despite an uncertain formal regulatory environment. Resolution 05 marked a shift from ambiguity toward an experimental national market structure. For Bitcoin users and businesses, the resolution marked an important regulatory shift in one of Southeast Asia’s largest markets even though the framework covered the broader crypto-asset sector.