Vietnam Cryptocurrency Regulation Explained

When you hear Vietnam cryptocurrency regulation, the set of statutes and guidelines that control how digital assets are bought, sold, and used for payments in Vietnam. Also known as Vietnam crypto law, it shapes everything from exchange licensing to consumer protection. Understanding Vietnam cryptocurrency regulation is the first step to staying compliant.

The framework splits into two clear strands. The first strand, crypto trading regulation Vietnam, rules that allow exchanges and traders to operate, but forbid direct crypto‑to‑fiat payment services, focuses on market integrity and AML/KYC obligations. The second strand, crypto payment regulation Vietnam, guidelines that limit the use of crypto as a legal tender while permitting limited utility‑token services under a licensing regime, governs how businesses can accept digital assets for goods or services. In short, trading is allowed under a license, payment use is heavily restricted.

Key Legal Instruments

Two recent laws drive the current landscape. Resolution 05/2025, the government decree that formalizes licensing requirements for crypto exchanges and sets penalties for non‑compliant operators introduced a mandatory registration process and a strict “no direct payment” rule. Meanwhile, the Digital Technology Industry Law, a broader act that classifies crypto assets as digital goods and outlines the authorities responsible for oversight gives the State Bank of Vietnam the power to enforce the split between trading and payment activities. These instruments together form the backbone of the regulatory ecosystem.

What does this mean for a new exchange? First, you need to apply for a Crypto Asset Service Provider (CASP) license under Resolution 05/2025. The application requires a detailed AML program, proof of sufficient capital, and a secure IT infrastructure that can pass a third‑party audit. Second, you must design your platform so that users can trade crypto‑to‑crypto pairs but cannot directly convert crypto to VND. If you want to offer a wallet that enables purchases, you must obtain a separate payment‑service license and restrict the wallet to approved merchant use cases only.

Compliance isn’t a one‑time check. The law mandates quarterly reporting to the State Bank, continuous KYC verification, and real‑time monitoring of suspicious transactions. Failure to comply can trigger fines up to 10% of annual turnover or revocation of the CASP license. On the flip side, a well‑structured compliance program opens doors to partnerships with local banks, which are otherwise hesitant to work with unlicensed operators.

For traders, the split creates a clear path: you can join a licensed exchange to trade Bitcoin, Ethereum, and other tokens, but you can’t use those tokens to pay for a coffee unless the merchant holds a payment‑service license. This distinction also affects tax reporting—trading profits are subject to corporate income tax, while token‑based purchases may fall under a separate consumption tax regime if the merchant is licensed.

Below you’ll find articles that dig deeper into each of these topics, from step‑by‑step licensing guides to analyses of how Resolution 05/2025 reshapes the market. Whether you’re a startup founder, an investor, or just curious about Vietnam’s stance on crypto, the collection offers practical insights you can act on right away.