Vietnam Resolution 05 turns foreign-investor crypto-asset access into a single-bank VND control lane

Vietnam Resolution 05 requires one dedicated VND account per foreign investor and makes crypto-asset services VND-only and Ministry of Finance-licensed.

The contemporaneous official record defines a concrete operating perimeter rather than a policy aspiration.

Foreign-investor money movement is bank-centered, the market leg is Ministry of Finance-licensed and VND-only, and the operator leg carries segregation, monthly reporting, local-retention and retained-liability duties.

Vietnam's 2025 pilot reads as a controlled market-infrastructure stack, not as permissionless crypto commercialization or a payments shortcut.

Government of Vietnam Resolution 05/2025/NQ-CP does not open a general crypto market. It confines service provision to Ministry of Finance licensees, requires offering, issuance, trading and settlement in Vietnamese dong, and routes foreign-investor money through one dedicated VND account at one authorised bank with purpose-coded transfer orders and regulator reporting.