Vietnam’s Crypto Pilot Program Unveiled: Why Elon Musk Can’t Buy Everything

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So, good news for all my Vietnamese crypto enthusiasts who also happen to be Deputy Prime Ministers, because Ho Duc Phuc (no relation to that feeling when your portfolio tanks) decided: “Let’s make crypto official, but only kind of.” New law, September 9th, it’s happening! 🥳

This pilot is running for five years, which, in crypto years, is basically seven centuries. Sorry, international moguls, you can watch but not really play. Vietnam is like, “You can be a minority shareholder. Please enjoy your tiny slice of the digital bánh mì.”

Per the Official Government Electronic Newspaper (way less fun than Reddit, no memes), the program wants to usher in glorious offerings of digital assets and services, organize some dazzling asset trading, and-brace yourself-make sure the state keeps a grip on what’s going down. So, if you thought this was going to be the Wild West, it’s not even the Wild West at Disneyland.

𝗝𝗨𝗦𝗧 𝗜𝗡: 🇻🇳 Vietnam approves five-year trial program for crypto trading platforms.

Asia is gearing up fast for the crypto wave.

– Lark Davis (@TheCryptoLark) September 9, 2025

Vietnam Sets Foreign Investment Limits, Requires Financial Institution Backing

To join in, you need a license from the Ministry of Finance-think Willy Wonka’s Golden Ticket if Willy Wonka was super into bureaucracy. Oh, and everything’s in the Vietnam dong. No dollars, euros, or bitcoin pizza memes allowed. 💸

If you want a piece, bring at least $378,500. Yes, that’s the cover charge. Your assets must be backed by the charter and extra treasuries, so Vietnam is basically saying, “We’re not accepting monopoly money, thank you.”

Foreign investors max out at 49%. If you thought you’d swoop in, buy up everything, and rename it “Crypto Pho,” think again. At least 65% must come from registered locals, and 35% from banks, securities, insurance, and tech companies. So unless you’re a financial juggernaut or a guy who once programmed a calculator in high school, your dreams might stay dreams.

Remember way back in March 2025? (Feels like a lifetime and also last Tuesday.) Coinspeaker said the pilot was coming, aiming for a legal framework so crypto entrepreneurs don’t keep asking, “Is this allowed?” By June, Vietnam rolled out blockchain for digital IDs and records, so your karaoke score could one day be on the blockchain forever. 🎤🤷‍♀️

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2025-09-10 06:31