In this Legal Alert, we provide a synopsis of the following recent Vietnamese legislation.
RESOLUTION NO. 05/2025/NQ-CP ON PILOTING THE CRYPTO ASSET MARKET IN VIETNAM
Adopted by the Government on 9 September 2025 and effective from the same date, Resolution No. 05/2025/NQ-CP (the “Resolution”) establishes a five-year pilot framework governing the offering, issuance, trading, and provision of services related to crypto assets in Vietnam. Since Resolution regulates a narrow range of crypto assets (e.g., certain types of tokenized RWAs), the sales of which are limited to foreign investors, the impact of the pilot program is likely to be muted.
LAW NO. 93/2025/QH15 ON SCIENCE, TECHNOLOGY, AND INNOVATION
Passed on 27 June 2025 and effective from 01 October 2025, the Law on Science, Technology, and Innovation marks the first time “innovation” is formally recognized at the legislative level in Vietnam. The Law introduces new guiding principles and prohibited acts in the fields of science, technology, and innovation, provides criminal liability exemptions for research-related risks, and further expands personal income tax exemptions to encourage innovation and research.
DECREE NO. 245/2025/ND-CP AMENDING AND SUPPLEMENTING REGULATIONS DETAILING THE IMPLEMENTATION OF THE SECURITIES LAW
Issued on 11 September 2025 and effective from the same date, Decree No. 245/2025/ND-CP (“Decree 245”) amends and supplements several provisions of Decree No. 155/2020/ND-CP (“Decree 155”) guiding the implementation of the Securities Law. This Decree 245 introduces key reforms to simplify entry procedures for Vietnam’s securities market, enhance transparency, and strengthen Vietnam’s appeal to foreign investors.
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