Vietnam Braces for Wide-scale Cryptocurrency Regulations
In a significant move towards regulating the cryptocurrency market, Vietnam has issued Resolution 05/2025/NQ-CP on September 9, 2025. This resolution, effective from September 11, 2025, aims to establish a legal framework for crypto in Vietnam, addressing rampant fraud schemes that have been a concern in the country's market.
The need for regulation became evident in 2024 when thousands of billions of VND were lost through fraud cases, intensifying the need for a structured and secure environment for digital asset trading. The new regulations are intended to protect citizens while enabling reasonable tax collection.
Vietnam's move towards crypto regulation is not isolated. Neighbouring countries like Thailand, Singapore, and even Laos are also building their own legal frameworks for cryptocurrencies. This regional trend reflects the global shift towards recognising and regulating digital assets.
Interestingly, Vietnam ranks among the world's top crypto adoption countries, with an estimated 20-30% of the population having traded digital assets. Tens of billions of USD are circulating in Vietnam's crypto market without oversight, highlighting the potential for growth and revenue generation if properly regulated.
One of the key aspects of the new regulations is the allowance for "token exports," which could potentially become a new foreign exchange revenue source for Vietnam. With licensed exchanges, all transactions will be properly recorded, providing clarity for tax purposes and ensuring transparency in the market.
An expert from 5 Minutes Crypto believes this is a necessary stepping stone for sustainable development, learning from countries that have successfully regulated crypto. The expert's sentiments echo those in the industry who view regulation as a catalyst for growth and trust in the cryptocurrency market.
The State Bank of Vietnam (SBV) is the authority responsible for regulating the cryptocurrency market in Vietnam. The key regulatory reforms, including crypto-related decrees, were officially established on September 11, 2025, marking a significant milestone in Vietnam's digital asset journey.
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