Vietnam's Central Bank Fuels Credit Growth, Expected to Boost Digital Asset Market

Vietnam is poised for significant growth in its digital asset sector, driven by the central bank's policy of actively encouraging substantial credit growth through supportive, low-interest-rate policies.

The State Bank of Vietnam (SBV) recently raised the credit limit for commercial banks and directed them to cut lending rates to meet ambitious national GDP expansion goals, projecting a 19% to 20% credit increase this year. Officials explicitly recognize this liquidity injection will likely flow into riskier assets.

As a global leader in grassroots crypto adoption, Vietnam's digital asset market is expected to benefit significantly from this "risk-on" environment. This economic focus aligns with Vietnam's ongoing policy moves to formalize the sector, including:

• The National Assembly's approval of the Law on Digital Technology Industry in June, which formally recognizes digital assets as a type of property.
• The launch of a five-year pilot program to create a regulated digital asset market.
• Highly favorable tax conditions, such as near-zero income tax on the gross value of crypto transactions.

To increase consumer protection and structure the market, the government is also implementing stricter oversight. The Ministry of Finance plans to significantly restrict the number of licensed trading platforms, allowing a maximum of only five exchanges to operate concurrently under the pilot program. This move is seen by some as a necessary measure for market maturity and safety.

October 2025, Cryptoniteuae