Quick Breakdown
- Vietnam plans to approve up to five firms to pilot licensed crypto exchanges before 2026.
- New regulatory framework to cover taxation, compliance, and investor protection.
- The move signals Vietnam’s cautious but strategic entry into regulated crypto trading.
The Vietnamese Ministry of Finance has confirmed plans to approve no more than five companies to pilot the country’s first licensed cryptocurrency exchanges, marking a significant step toward a regulated digital asset market ahead of 2026.
Deputy Minister of Finance Nguyen Duc Chi made the announcement during the government’s monthly press briefing on October 5, emphasizing that while interest in crypto trading is expected to grow, participation will remain tightly controlled during the pilot phase.
Tight regulatory framework in motion
Following the issuance of Resolution No. 05/2025/NQ-CP on September 9, the Ministry of Finance (MoF) has begun drafting detailed decrees and policies to support the pilot crypto exchange market. The framework includes guidelines on taxation, accounting standards, transaction fees, and compliance mechanisms.
Deputy Minister Chi noted that coordination is underway with other key agencies, including the State Bank of Vietnam and the Ministry of Public Security, to finalize licensing and oversight processes. The goal, he said, is to ensure that the market operates under strict supervision to prevent misuse and protect investors.
First crypto exchanges expected before 2026
While no businesses have formally applied to join the pilot program, the ministry is moving swiftly to complete preparations so that eligible firms can begin operations before 2026. The Deputy Minister stressed that readiness from both regulators and enterprises will determine how quickly the first licensed platforms go live.
The limited pilot, allowing only up to five enterprises, represents Vietnam’s cautious yet progressive approach toward digital assets. As global markets move toward stronger oversight of cryptocurrencies, Vietnam’s pilot could lay the foundation for broader adoption and legal recognition of crypto trading in the country.
The pilot comes as Vietnam seeks to bring its fast-growing crypto sector under domestic regulation. A recent report by VinaCapital Fund Management, titled “Shaping the Vietnamese Crypto Asset Market,” revealed that over 17 million Vietnamese have traded digital assets, one of the highest participation rates globally.
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