{ "jurisdiction_id": "VN", "jurisdiction": "Vietnam", "url": "https://cryptoassets.gi/jurisdictions/vietnam/", "generator": "render_jid v13.3.0", "date_modified": "2026-08-17", "schema_version": "crypto-v2.0.0", "counts": { "modules": 8, "sourced_findings": 14, "source_register": 12 }, "modules": [ { "code": "crypto_licensing", "name": "Crypto Licensing", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/vietnam/#crypto-licensing-crypto-licensing", "standing_position": "Vietnam moved from an SBV payment-use prohibition to a Ministry of Finance / State Securities Commission-run pilot licensing regime for domestic crypto exchanges under Resolution No. 05/2025/NQ-CP, operationalized January 2026, with a very high capital barrier (~VND 10 trillion / ~$380-400M) and a 49% foreign-ownership cap. As of the research date no exchange has yet been issued a full license, even as Decree 284/2026/NĐ-CP (effective 2026-09-01) introduces fines for unlicensed/overseas trading. The pilot's scope and duration require ongoing verification per seed caution flags.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "token_classification", "name": "Token Classification", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/vietnam/#token-classification-token-classification", "standing_position": "The Digital Technology Industry Law (effective 2026-01-01) is the first Vietnamese statute to formally classify crypto/digital assets, dividing them into virtual assets and crypto assets, and further categorizing crypto assets into four sub-types. Two of these (security tokens, utility tokens) map to declared enum categories; 'payment tokens' and 'mixed tokens' do not map cleanly to the module's enum and are recorded as unclassified pending implementing regulation detail.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "on_chain_activity_regime", "name": "On-Chain Activity Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/vietnam/#on-chain-activity-regime-on-chain-activity-regime", "standing_position": "No dedicated primary-source regulation addressing staking, DeFi lending, DEX operation, mining, node operation, validator activity, or tokenization specifically was located during this research pass. The Digital Technology Industry Law and Resolution 05/2025/NQ-CP focus on exchange licensing and asset classification rather than on-chain activity categories.", "findings": [] }, { "code": "stablecoin_regime", "name": "Stablecoin Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/vietnam/#stablecoin-regime-stablecoin-regime", "standing_position": "No dedicated stablecoin issuance, reserve, redemption, disclosure, or systemic-designation framework was located for Vietnam. Officials have expressed qualitative concern that stablecoin usage could weaken capital-flow controls, but no binding stablecoin-specific instrument was identified.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "consumer_protection", "name": "Consumer Protection", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/vietnam/#consumer-protection-consumer-protection", "standing_position": "Consumer/investor protection in the crypto pilot regime is addressed indirectly through the licensing framework's ownership, staffing, and infrastructure requirements rather than through a standalone consumer-protection instrument.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "tax_treatment", "name": "Tax Treatment", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/vietnam/#tax-treatment-tax-treatment", "standing_position": "The Digital Technology Industry Law introduces tax exemptions and incentives targeted at blockchain startups and digital-infrastructure developers, but Vietnam does not yet have a confirmed, generally applicable capital-gains, income, VAT, or withholding tax regime specific to ordinary crypto transactions. Earlier industry proposals for a dedicated virtual-asset tax remain at the proposal stage.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "cross_border_transfer", "name": "Cross-Border Transfer", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/vietnam/#cross-border-transfer-cross-border-transfer", "standing_position": "Vietnam is actively restricting cross-border/offshore crypto platform use as part of the licensing pilot: Decree 284/2026/NĐ-CP penalizes domestic investors trading via unlicensed (including overseas) platforms, effective September 1, 2026, layered onto Vietnam's pre-existing general capital-flow/cross-border transfer restrictions.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null }, { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] }, { "code": "aml_cft_regime", "name": "AML/CFT Regime", "confidence": null, "moved_this_cycle": false, "url": "https://cryptoassets.gi/jurisdictions/vietnam/#aml-cft-regime-aml-cft-regime", "standing_position": "AML/CFT claims for crypto are produced under the FIM aml_ctf module and are not duplicated in this baseline per subscription rules. As disambiguation context only: Vietnam remains on the FATF grey list for insufficient AML controls, particularly concerning virtual assets, which has partly motivated the exchange-licensing pilot's ownership, staffing, and infrastructure requirements.", "findings": [ { "finding": null, "instrument_type": null, "source": null, "source_url": null, "source_tier": null, "retrieved_at": null } ] } ] }