Vietnam Experiments With Crypto Trading Market In Five-Year Pilot

Vietnam has approved a five-year pilot for cryptocurrency trading, opening a tightly controlled gateway into a market that has grown rapidly without formal ￰0￱ resolution allows only Vietnamese companies to operate platforms. Additionally, it requires all issuance, trading and payments of crypto assets to be settled in the local dong, according to a government announcement ￰1￱ Vietnamese firms can issue tokens, and they may sell them solely to foreign ￰2￱ Sets Tough Entry Bar For Crypto Exchanges The rules set a high bar for ￰3￱ begin with, any exchange provider must hold at least 10 trillion dong, about US$379m, in ￰4￱ addition, institutional investors must contribute no less than 65%.

Finally, foreign ownership in trading platforms is capped at 49%. According to Bloomberg, Vietnam has approved a five-year pilot program for crypto asset trading, allowing only domestic companies to operate platforms and requiring all issuance, trading, and payments to be conducted in Vietnamese ￰5￱ investors may participate, but… — Wu Blockchain (@WuBlockchain) September 9, 2025 Last year, Vietnam ranked fifth in a global adoption index by ￰6￱ estimated 17m Vietnamese own digital assets, with their combined holdings valued at more than $100b. The pilot will open the door for both domestic holders and foreign ￰7￱ who already own crypto will be able to open accounts on licensed ￰8￱ the first license is issued, investors will have six months to move to approved ￰9￱ that, any trading by Vietnamese on unlicensed venues will be considered illegal.

However, the government has not yet specified the ￰10￱ Builds On Digital Law And Blockchain Rollout Officials see the move as part of a broader effort to manage the country’s fast-expanding digital ￰11￱ in June, the National Assembly passed the Law on Digital Technology ￰12￱ the first time, the law defines, classifies, and sets out rules for managing digital ￰13￱ July, authorities had rolled out NDAChain , a permissioned Layer 1 blockchain designed to anchor Vietnam’s national digital ￰14￱ system is operated by the Ministry of Public Security’s Data Innovation and Exploitation Center and was developed with the National Data ￰15￱ new pilot builds on those foundations, combining a cautious regulatory approach with the recognition that crypto is already entrenched in Vietnam’s financial ￰16￱ Seen As Dynamic Market For Adoption The government, meanwhile, is aiming to balance innovation with ￰17￱ mandating domestic control of platforms and pegging all transactions to the dong, regulators seek to limit risks while still allowing capital to flow through legitimate ￰18￱ the next five years, the trial will provide time to measure market behavior and assess the effectiveness of ￰19￱ turn, the results may help Vietnam decide whether to expand or tighten access once the pilot ￰20￱ the same time, Vietnam’s decision places it among a growing list of Asian economies testing formal frameworks for digital ￰21￱ a result, the outcome will be closely watched by global investors, who see the country as one of the most dynamic markets for crypto adoption.