Vietnam Ministry of Finance proposes crypto asset reporting rules

The Ministry of Finance is seeking public feedback on a draft Circular regarding reporting and information disclosure regulations for the crypto asset trading market.

Under the proposed rules, crypto asset service providers would be required to submit daily transaction reports to the State Securities Commission (SSC). These reports must categorize investors as domestic or foreign, and as individuals or organizations, while detailing the volume and value of all buys and sells. Transactions would be grouped by value thresholds: under $1,000, $1,000–$5,000, $5,000–$10,000, and over $10,000.

Additionally, platforms must publicly disclose the three best bid and ask prices for each asset type, along with corresponding volumes. Issuers of crypto assets would also face strict disclosure obligations throughout the lifecycle of an issuance, including publishing prospectuses at least 15 days before offering and updating any changes within three days. Results of offerings must be announced within seven days of completion.