Vietnam Crypto Market: Bitcoin Recovers, New Regulations

Vietnam Crypto Market Overview On October 20, 2025

On October 20, 2025, the global crypto asset market showed positive signs of recovery, particularly the rebound of Bitcoin (BTC). After a period of strong volatility in the first half of October, Bitcoin's price stabilized around $108,076, marking a 0.98% increase within 24 hours. This pushed Bitcoin's market capitalization to $2.16 trillion.

Notably, the $108,000 price point was a historical peak Bitcoin reached in December 2024, according to data from Binance.

Despite this recovery, Bitcoin was still down approximately 9% against the USD for the same period in October. The current stability is driven by more positive investor sentiment and capital inflows returning to the digital asset market, partly due to expectations that US interest rates will remain stable in Q4. Other major cryptocurrencies also saw positive movements: Ethereum (ETH) rose 1.3% to $3,930, Solana (SOL) increased over 2% to $188, and XRP gained more than 1% to $2.3. However, BNB saw a slight decrease of 0.3% to $1,100 on October 19, 2025.

Vietnamese Businesses Transform: From An Truong An To LPEX

An Truong An (ATG) Renames And Expands Into Digital Technology

An Truong An Joint Stock Company (UPCoM stock code: ATG) is drawing attention with its ambitious transformation plan. The company is scheduled to hold an extraordinary general meeting of shareholders on November 06, 2025, to officially rename itself ATG Planet JSC and expand its business operations into high-tech sectors such as digital technology, Blockchain, and Artificial Intelligence (AI).

ATG's current situation is modest, with only 2 employees and accumulated losses exceeding VND 157 billion as of the end of June 2025. However, the company has significant ambitions, targeting annual revenue of VND 1,000 billion and profit of VND 150 billion from these new sectors. To achieve this, ATG plans to privately offer 10 million shares at VND 20,000 per share in Q4/2025, aiming to raise VND 200 billion and increase its charter capital to VND 252.2 billion.

The raised capital will be used to establish ATG Planet Stone One Member Limited Company, specializing in high-end construction materials manufacturing in Thanh Hoa.

Concurrently, it will contribute capital to establish ABI Planet JSC in Da Nang Hi-Tech Park, focusing on Blockchain and AI research and development. ATG will contribute 30% (equivalent to VND 15 billion) to ABI Planet, which has a charter capital of VND 50 billion, and also seek foreign strategic investors for the remaining capital.

The company also proposed allowing foreign investors to own 100% of its charter capital, a move aimed at attracting international capital and expanding technological cooperation.

New Crypto Asset Exchange LPEX Launches

Another positive sign for Vietnam's digital asset market is the launch of Loc Phat Vietnam Crypto Asset Exchange JSC (LPEX) on September 30, 2025. LPEX's headquarters are located at LPB Building, 210 Tran Quang Khai, Hoan Kiem, Hanoi, coinciding with the head office of Loc Phat Vietnam Commercial Joint Stock Bank (LPBank).

The company has an initial charter capital of VND 6.8 billion, with three main individual contributors: Mr. Duong Van Quyet (40%), Ms. Nguyen Thi Bich Ngoc (30%), and Mr. Vu Phat Dat (30%). A notable connection is that Mr. Duong Van Quyet was a major shareholder of Thaigroup JSC, a company closely associated with Mr. Nguyen Duc Thuy, the current Chairman of LPBank's Board of Directors. This suggests that LPEX could potentially become part of the bank's ecosystem, creating significant development potential in the future.

Legal Landscape Shaping The Future Of The Crypto Asset Market

Resolution 05/2025/NQ-CP: Paving The Way For Pilot Program

On September 09, 2025, the Vietnamese Government issued Resolution 05/2025/NQ-CP, a significant milestone for the domestic crypto asset market. This resolution permits a 5-year pilot program for the crypto asset market in Vietnam. This marks the first time a controlled pilot mechanism has been established to systematically test, monitor, and evaluate activities related to crypto assets.

Digital Technology Industry Law: Recognizing Digital Assets

The Vietnamese National Assembly passed the Digital Technology Industry Law on June 14, 2025, effective from January 01, 2026. This law officially recognizes digital assets, including virtual assets and cryptocurrencies (excluding securities, digital fiat currency, or other financial instruments). This is a significant legal advancement, providing clear definitions for these types of assets.

The law also imposes stringent requirements for cybersecurity protection and anti-money laundering in accordance with international standards. This aims to address concerns from the Financial Action Task Force (FATF) regarding Vietnam's inclusion on the "grey list" since 2023, while also moving towards a more transparent and secure market.

Potential, Challenges, And Development Trends Of Vietnam's Market

Strong Capital Inflows And Exceptional Growth

Vietnam is emerging as a significant digital asset market in the Asia-Pacific region, ranking third with crypto asset capital inflows exceeding $220 billion in 2025, a 55% increase from the previous year. On-chain transaction value in the region also tripled in just 30 months, from $81 billion/month in July 2022 to $244 billion/month by the end of 2024, demonstrating impressive growth.

Current Challenges And Opportunities From Real World Asset (RWA) Tokenization

Despite significant potential, Vietnam's crypto asset market still faces challenges. Most transactions currently occur on international exchanges, leading to tax revenue losses and potential risks of money laundering and terrorist financing. This further drives the need to build a more transparent and tightly controlled domestic market.

Experts believe that the "tokenization" of Real World Assets (RWA) is an irreversible trend, projected to reach a global scale of $19 trillion by 2033. This offers significant opportunities for Vietnamese businesses to raise capital and improve asset liquidity.

The development of RWA can help Vietnam fully exploit the potential of digital assets, especially in real estate, intellectual property, and commodities.

Preparation By Major Financial Institutions

As the legal framework gradually takes shape, many major financial institutions in Vietnam, such as VPBank, have been actively preparing their technological platforms and human resources. The goal is to be ready to implement digital asset services and exchanges as soon as official pilot licenses are granted, demonstrating the traditional financial sector's serious commitment and long-term vision for this new field.

Conclusion

October 20, 2025, marks a period of strong transformation for Vietnam's crypto asset market. With Bitcoin's recovery, the pivot of traditional businesses like An Truong An towards digital technology, the emergence of new exchanges like LPEX, and an increasingly clear legal framework, Vietnam stands at a significant juncture to assert its position on the global digital asset map. The combination of technological innovation and stringent regulation will be key to the sustainable development of this market.

Disclaimer: This article is intended solely to provide information and market insights at the time of publication. We make no promises or guarantees regarding performance, returns, or the absolute accuracy of the data. All investment decisions are the sole responsibility of the reader.