Open a Cryptocurrency Company in Vietnam

Setting up a business in Vietnam comes with many advantages for foreign investors who want to explore emerging industries like cryptocurrency. It is useful to note that a pilot crypto-asset licensing regime (Resolution 05/2025/NQ-CP) has existed since September 2025, with licence applications accepted by the Ministry of Finance since 20 January 2026.

Our experts in company formation in Vietnam explain how foreign enterprisers can open a cryptocurrency company in Vietnam.  They can also assist you throughout the procedure of company registration. So, if you want to establish a Vietnamese Virtual Asset Service Provider (VASP), you can interact with our experts. 

Steps to register a cryptocurrency company in Vietnam

Foreign entrepreneurs who want to register cryptocurrency businesses in Vietnam must follow the same procedure and steps as any type of fintech company. These steps are:

1. choose the right business form for the activities to be undertaken;
2. prepare the documents related to the company incorporation and file them with the Business Registration Office;
3. prepare an investment plan and a feasibility study to show how the company will impact the economy and file it with the same office;
4. open a corporate bank account, deposit the share capital, and register for taxation purposes.

Crypto-asset service providers must also obtain a licence from the Ministry of Finance under the pilot regime of Resolution 05/2025/NQ-CP.

Our Vietnam company formation consultants can guide investors through the incorporation of the cryptocurrency business.

Legislation on cryptocurrencies in Vietnam

The Law on Digital Technology Industry and Resolution 05/2025/NQ-CP now regulate crypto-assets, and the Ministry of Finance and the State Bank of Vietnam continue to work on further regulations for the cryptocurrency sector which target the taxation of companies involved in such activities.

Until then, the Vietnamese authorities allow for the following activities to be carried out:

• cryptocurrency mining activities imply the use of computers to generate new digital money;
• the use of blockchain technology to complete various actions, such as smart contract signing;
• initial coin offering (ICO) which implies the launch of new cryptocurrencies in order to raise funds for startups;
• the creation of IT companies that can create new virtual money.

It should be noted that crypto-asset exchanges may operate only if licensed under the pilot regime. Besides this, if you want online incorporation of any other business kind, you are welcome to get in touch with our company formation experts. They will not only guide you but also incorporate an online company for you. 

What is the best business form to open a crypto company in Vietnam?

If you want to operate as a Virtual Asset Service Provider in Vietnam there are several legal forms you can use. A popular option is the private limited liability company. The enterprise can have one or more shareholders. If you are a foreign investor, for example, you can set up a company with another local partner to ease the language barrier.

It is also possible to open the company on your own, however, you must obtain an Investment Registration Certificate (since 1 March 2026 this can also be done within 12 months after registration).

If you decide to establish the company as a single shareholder, you can rely on our company formation consultants in Vietnam to apply for the investment license.

Here is also our infographic on this subject below:

Cryptocurrency licenses in Vietnam 

Licence applications for crypto-asset trading platforms have been accepted since 20 January 2026, but according to press reports (late August 2026) no organization has yet received a license from the Vietnamese government. Any investor wishing to conduct a cryptocurrency business in Vietnam is urged to consult with and obtain approval from numerous competent authorities in Vietnam, including the Ministry of Finance (which absorbed the Ministry of Planning and Investment in 2025), the State Bank of Vietnam, and other relevant Ministries (if any), as running cryptocurrencies is not permitted under Vietnam’s Schedule of WTO Commitments. You can get further details regarding crypto licenses in Vietnam from our company formation experts. 
Furthermore, if you want to open a branch office in Vietnam, our experts can also assist you in this matter. They will further explain the duties and obligations of a branch office in Vietnam to you. 

Cryptocurrency taxation in Vietnam 

If you are planning to open a cryptocurrency company in Vietnam, you must know that trading in cryptocurrencies is not new and has a large following. However, there is still a lack of a comprehensive legal framework that would recognize cryptocurrencies as either products or assets and allow for trading under Vietnam legislation. The Investment Law 2020 does not include virtual currency investment in the list of industries where business investment is prohibited, and there is no specific directive that forbids individuals from investing in virtual currency, so the current regulations are not entirely clear from an investment or business perspective. Furthermore, the law also does not provide any directives for acquiring a crypto license in Vietnam. 
According to Article 1 of Decree 80/2016/ND-CP on non-cash payment and instructions, the State Bank of Vietnam still does not recognize cryptocurrencies as a legitimate form of payment. The Prime Minister recently approved the e-Government development strategy for the period of 2021-2025, with a vision for 2030. The State Bank has been given primary responsibility by the Prime Minister to conduct research, develop, and pilot the use of virtual currency based on blockchain technology. These plans led to the crypto-asset framework adopted in 2025. 
So, it could be the right time for you to open a company in Vietnam in the cryptocurrency sector. You can rely on our accountants in Vietnam for support in crypto taxation matters.

Future of cryptocurrency in Vietnam

By enabling online payments to be transmitted directly from one party to another without going via a financial institution acting as a trusted third party to handle electronic payments, cryptocurrency is transforming the worldwide payment sector. It avoids the fundamental flaws of the trust-based paradigm since it is supported by an electronic payment system based on cryptographic verification rather than on trust.
However, Vietnam appears to be moving very cautiously in the direction of cryptocurrencies due to claims that they are unregulated and therefore open to illegal activities like tax evasion, money laundering, funding for terrorism, and hacking. It is also possible that cryptocurrencies have the potential to upset established financial systems, which could have an impact on the economy of the country.
A research group led by the Vice-Chairman of the State Securities Commission was established by the Ministry of Finance on March 30, 2021, to conduct an in-depth study of cryptocurrencies to achieve legislative reform for the industry in Vietnam. While cryptocurrency trading and use are booming globally in terms of popularity, Vietnam cannot stand outside the game. Since non-cash payments have become more prevalent with several apps, QR codes, and e-wallets, the current economic change in Vietnam provides a particularly ideal setting for cryptocurrencies. Keeping in view all these factors, you can rely on our incorporation agents for forming a cryptocurrency company. They can also help you in acquiring a crypto license in Vietnam to regulate your business legally. Besides helping you to acquire a crypto license, if you are looking for other assistance, get in touch with our agents. For instance; if you want the help of a local Vietnamese accountant, our agents can assist you. For newly established businesses, our accountants can provide guidance and prepare tax declaration case files that include submitting license fee declarations, paying the license fee, registering to communicate with the tax authorities, registering for electronic tax payment, giving the notice to issue an electronic invoice, and other tax declaration processes.

Penalty for unlicensed regulations in Vietnam 

Providing crypto-asset services without a licence under the pilot regime is illegal in this country, and violators will face administrative penalties. For instance, a specific administrative fine of VND50,000,000 to VND100,000,000 and a 3-6-month suspension of the credit institution‘s foreign exchange activities would be imposed on any investor operating a cryptocurrency company.

New crypto legislation adopted in 2025

Virtual currencies are very popular in Vietnam, which is why the government announced that in 2025 adopted new rules (Law on Digital Technology Industry and Resolution 05/2025/NQ-CP) allowing licensed crypto-asset service providers. The new legal framework provides for the following:

• ownership matters;
• anti-money laundering regulations;
• new taxation policies;
• the possibility of applying for a crypto license in Vietnam.

The new law is also expected to make a distinction between the types of tokens companies will be able to issue. In most countries, it is possible to issue utility tokens or virtual money employed for making certain payments. So, the Vietnamese government will probably also cover this aspect with the new regulations.

Outside the licensed pilot (open only to large, mainly institutionally-owned companies),you can still open such a company to complete the activities mentioned above.

You can keep in touch with our company registration agents in Vietnam for news about the new legislation.

Cryptocurrency ownership in Vietnam

According to data from 2022, Vietnamese citizens owned various types of cryptocurrencies. Among the most popular ones were:

• Bitcoin in the proportion of 31% of the participants in the research;
• 26% of crypto owners held Ethereum coins;
• 23% of Vietnamese citizens owned Cardano;
• 21% of the respondents held Dodgecoin.

Please contact our company formation agents if you have any questions regarding opening a cryptocurrency company and the prospects of a VASP license in Vietnam.