As countries tighten rules on crypto assets and investors increasingly favor assets with clear legal backing, Vietnam’s approach is opening a new funding channel while strengthening investor protection.

As countries tighten rules on crypto assets and investors increasingly favor assets with clear legal backing, Vietnam’s approach is opening a new funding channel while strengthening investor protection.

​The Government’s Resolution 05/2025/NQ-CP, issued on September 9, 2025, marked a milestone in piloting a crypto asset market in Vietnam and laying the groundwork for a new capital-raising channel.

​Under the resolution, crypto assets must be backed by real-world assets and exclude securities and fiat currencies. They may initially…