On 9 September 2025, the Government of Vietnam issued Resolution No. 05/2025/NQ-CP on the pilot implementation of the tokenized assets market in Vietnam (“Resolution 05”). This landmark resolution establishes a five-year pilot program and introduces the first dedicated legal framework for tokenized assets in the country.
Key takeaways include:
- for the pilot, issuers will need to be Vietnamese entities and trading is limited to foreign investors;
- while generally, tokenized assets must be backed by real underlying assets; and
- service providers will face stringent licensing requirements.
For further information, please visit DFDL.
