Vietnam’s government is moving swiftly to regulate digital assets, including virtual and crypto assets. Prime Minister Pham Minh Chinh has directed the Ministry of Finance, in coordination with relevant agencies, to finalize a draft resolution on digital asset management and submit it by March 13, 2025.

The directive was outlined in an official telegram issued on March 9, which details key administrative reform measures aimed at improving the business environment and promoting economic growth.

The new regulatory framework is expected to provide clear legal guidance on digital asset activities in Vietnam, ensuring transparency while fostering economic and technological development.

The Prime Minister has specifically instructed the Ministry of Finance to lead the development of this framework, working alongside other ministries, government agencies, and local authorities. The draft resolution will then be presented to the Standing Government Committee before the March 13 deadline.

Prior to this, both the Ministry of Finance and the State Bank of Vietnam had been assigned the task of developing a legal framework for managing digital assets and digital currencies by the end of March 2025.

At a recent government press conference in February 2025, Deputy Minister of Finance Nguyen Duc Chi acknowledged that digital assets and cryptocurrencies are highly complex and relatively new phenomena, not only for Vietnam but also for many countries across the region and the world.

According to the Ministry of Finance, regulatory agencies are conducting thorough research to establish various legal frameworks that can effectively govern digital assets.

The goal is to develop a transparent and structured approach to managing virtual assets and digital currencies, ensuring that such financial innovations support national economic and social development.

Hanh Nguyen