Vietnam's Pilot Crypto Program 2025-2030: What You Need to Know
Feb, 28 2026
On September 9, 2025, Vietnam did something no other country has done: it launched the world’s first official, government-backed pilot crypto program with a clear end date - September 8, 2030. This isn’t a trial run. It’s a five-year legal experiment designed to bring cryptocurrency out of the shadows and into a tightly controlled, regulated system. For anyone trading, investing, or even just holding crypto in Vietnam, this changes everything.
What Exactly Is the Vietnam Crypto Pilot?
The program runs under two legal documents: Law No. 71/2025/QH15 on Digital Technology Industry and Resolution 05/2025/NQ-CP. Together, they create a legal pathway for crypto assets to exist, be traded, and be held - but only through licensed providers. Before this, Vietnam banned crypto as a payment method and blocked banks from handling crypto transactions. Now, you can own crypto legally, but you can’t just use any exchange. You have to use one approved by the Ministry of Finance.
It’s not a free-for-all. The government defines three types of digital assets:
- Virtual assets: Any digital item used for exchange or investment - like NFTs or game tokens.
- Crypto assets: A subset that uses encryption or digital tech to authenticate ownership - think Bitcoin, Ethereum, and similar coins.
- Other virtual assets: Anything that doesn’t fit the first two categories.
Securities, digital versions of the Vietnamese đồng, and traditional financial instruments are still excluded. That means you can’t trade tokenized stocks or crypto-backed loans under this law - at least not yet.
Who Can Participate?
Anyone. Domestic users, foreign investors, local startups, international exchanges - all can join, as long as they follow the rules. But here’s the catch: after the first six months of the first license being issued, all trading and custody activities must go through licensed providers. No more using Binance, Coinbase, or Kraken directly from Vietnam. If you’re holding crypto on an unlicensed platform after that window closes, you’re breaking the law.
Service providers - exchanges, wallet firms, custodians - must apply for licenses. The Ministry of Finance is still writing the exact rules for that process. But we know they’ll need to prove they meet strict standards: anti-money laundering checks, cybersecurity protocols, data storage rules, and real-time reporting systems. Think of it like opening a bank, but for crypto.
Why Now? Why Vietnam?
Vietnam has one of the most active crypto markets in Southeast Asia. Daily trading volume hits over $600 million, according to VIR, a local crypto data firm. That’s more than most countries with full legal markets. Yet, until 2025, users were operating in a gray zone - technically illegal, but widely ignored.
The government didn’t want to ban it. It didn’t want to ignore it. It wanted to control it. By creating a pilot, they’re testing how crypto behaves under strict oversight. They’re watching how much money flows in, how often violations happen, and whether local providers can compete with global ones.
Compare this to China’s total ban or India’s heavy taxes without clear rules. Vietnam chose a third path: regulated access. It’s closer to the EU’s MiCA framework, but with tighter control. No decentralized finance (DeFi) apps. No peer-to-peer trading without a licensed middleman. No mining unless explicitly allowed later.
What’s Still Unclear?
Even with the law in place, big gaps remain. The Ministry of Finance hasn’t released final rules on:
- Taxation: Right now, crypto gains are taxed like securities - 20% capital gains. But a specific crypto tax code is still being drafted.
- Mining: Is it legal? Illegal? Allowed with permits? No answer yet. Most miners are operating quietly.
- Penalties: What happens if you trade on an unlicensed platform? A fine? Jail time? The law says violators face “administrative sanctions or criminal liability,” but doesn’t define either.
- Foreign access: Can a U.S. company get licensed? Can a Vietnamese citizen use a licensed Singaporean exchange? Unclear.
There’s also no official English translation of the full law. Most guidance is in Vietnamese. That makes compliance harder for foreign investors and even bilingual locals.
Real-World Impact: What Are People Doing?
On Reddit threads and Vietnamese Facebook groups, users are split. Some celebrate the move as long-overdue legitimacy. Others worry about government overreach. One trader in Ho Chi Minh City told a local news outlet: “I’ve been trading since 2021. I used Binance. Now I have to move everything to a local platform I’ve never heard of. What if they freeze my account?”
Early adopters are scrambling. A few local startups have announced they’re applying for licenses. One, called VinaChain, says it’s building a wallet and exchange with full AML integration. But most users don’t know how to apply, what documents they need, or how long approval will take.
Meanwhile, offshore exchanges are quietly preparing. Some have started offering “Vietnam-only” trading pairs with stricter KYC. Others are partnering with local banks to create compliant on-ramps. The race is on to become one of the first licensed providers.
What This Means for You
If you’re a Vietnamese citizen holding crypto:
- Watch for the first licensed provider announcement - it’s expected by March 2026.
- Within six months of that, move all your assets to a licensed platform. Keep records of all transfers.
- Stop using unlicensed exchanges. Even if they’re still accessible, you’re at legal risk.
- Save every transaction receipt. Tax reporting will be mandatory.
If you’re a foreign investor or business:
- Don’t assume you can serve Vietnamese users without a license. The law applies to anyone operating within Vietnam’s borders - even remotely.
- Start talking to legal advisors familiar with Vietnam’s fintech regulations.
- Prepare for high compliance costs. Expect to spend months and tens of thousands of dollars to get approved.
The government isn’t trying to kill crypto. It’s trying to own it. And if the pilot works, this could become permanent. If it fails - say, if too many people evade the system - they could shut it down early or make it even stricter.
What Comes Next?
The next 18 months are critical. By mid-2027, we should see:
- At least three licensed providers operating in Vietnam.
- Clear tax rules for crypto gains and staking rewards.
- First public report on trading volume, compliance violations, and user complaints.
- Possible expansion to include DeFi or NFT marketplaces.
By 2030, Vietnam will decide whether to make this permanent, expand it regionally, or shut it down. But for now, the clock is ticking. The pilot runs until 2030. That’s not a suggestion. It’s a deadline.
Is cryptocurrency legal in Vietnam as of 2026?
Yes, but only under strict conditions. You can legally own, trade, and invest in crypto assets - but only through platforms licensed by Vietnam’s Ministry of Finance. Using unlicensed exchanges or peer-to-peer platforms after the transition period ends is illegal and can lead to fines or criminal charges.
Can I still use Binance or Coinbase in Vietnam?
You can still access them technically, but after the first licensed provider launches (expected by March 2026), you have six months to move your assets to a licensed Vietnamese platform. After that, using foreign exchanges for trading or custody violates the law. Your funds may be at risk if authorities crack down.
Do I have to pay taxes on my crypto gains in Vietnam?
Yes. Currently, crypto gains are taxed at 20% under existing securities tax rules. A dedicated crypto tax code is under development and expected before 2027. All transactions must be reported through licensed platforms, which will provide tax documentation. Failure to report could trigger audits or penalties.
Is crypto mining allowed in Vietnam?
It’s not officially allowed or banned - yet. The government has not issued any rules on mining activity. Most miners operate informally. If mining becomes part of the pilot’s scope, it will require a specific license. Until then, it remains in a legal gray zone.
What happens if I don’t move my crypto to a licensed platform?
You risk administrative penalties - like fines - or even criminal liability, depending on the scale of your activity. The law doesn’t specify exact punishments yet, but authorities have said they’ll enforce compliance. If you’re caught using unlicensed services after the deadline, your assets could be frozen, and you could be investigated for violating financial regulations.
Can foreigners invest in Vietnam’s crypto market?
Yes, but only through licensed Vietnamese providers. Foreign investors can open accounts on licensed exchanges, but they must comply with local KYC rules. Direct access to foreign platforms is not permitted after the transition period. International firms hoping to operate in Vietnam must apply for local licenses - which is a complex, lengthy process.