The Vietnam State Securities Commission published a recap of remarks by Deputy Minister of Finance Do Thanh Trung at the March 2025 regular Government press conference, outlining work to develop a legal framework and a pilot market for crypto assets, in response to questions on piloting a digital-asset exchange. The Ministry of Finance is coordinating with other ministries to assess market conditions and international regulatory experience, and has recommended that the Government recognise the existence and potential of crypto assets. Following a March 2025 Government instruction, the legal framework is being developed on a cautious, phased basis, aimed at ensuring safety, transparency and effectiveness and protecting lawful rights and interests of market participants. The pilot would cover both trading and issuance of crypto assets, and is described as potentially creating a new capital-raising channel for companies alongside traditional financial assets; the pilot market would need to comply with Vietnamese law and the laws of relevant jurisdictions for participating foreign investors. A draft Government resolution to implement the pilot is being prepared, with the Ministry of Finance having sought comments from relevant ministries and agencies and legal appraisal from the Ministry of Justice; inputs are being consolidated for reporting back to the Government.

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