Vietnam Nears Launch of Regulated Crypto Trading
Speaking during the Digital Trust in Finance 2026 forum in Hanoi, Deputy Finance Minister Nguyen Duc Chi confirmed that the government has approved five companies to operate digital asset exchanges under Vietnam’s upcoming regulatory framework.
According to Chi, the country is now entering the final phase of preparations, with the Ministry of Finance, the Ministry of Public Security, and the State Bank of Vietnam all coordinating on the rollout.
The announcement marks one of the biggest regulatory shifts for digital assets in Southeast Asia, especially considering Vietnam already has one of the world’s largest crypto user bases despite operating for years without a formal legal framework.
Vietnam Has Been Quietly Building Its Crypto Framework
The move did not happen overnight. Vietnam has spent the past year slowly constructing the legal infrastructure needed to bring the crypto sector under state supervision.
At the start of 2026, the country’s Law on Digital Technology Industry officially took effect, formally recognizing crypto assets under Vietnamese law for the first time. Months earlier, the government introduced Resolution No. 05/2025/NP-CP, which created a pilot framework for digital asset markets.
Later in December 2025, the Finance Ministry established a specialized Management Board for crypto asset trading under the State Securities Commission, signaling that authorities intended to move beyond experimentation and toward a fully regulated domestic market.
The government’s strategy appears aimed at bringing crypto activity back onshore after years of massive adoption through foreign exchanges.
Vietnam Already Has Millions of Crypto Users
Vietnam’s crypto market has grown into one of the largest in Asia despite the absence of local licensed exchanges.
Officials estimate that roughly 17 million Vietnamese residents currently participate in the crypto market, while ownership reportedly peaked at around 21 million users during previous market cycles.
According to estimates from Chainalysis, Vietnam processed between $220 billion and $230 billion in crypto transaction volume between July 2024 and June 2025 alone.
Most of that activity flowed through offshore platforms such as Binance, Bybit, and OKX.
Authorities estimate Vietnamese traders opened nearly 20 million wallets on overseas exchanges. Under the upcoming framework, users will reportedly have six months to connect those wallets to government-approved platforms or potentially face criminal penalties.
Licensed Exchanges Are Racing to Meet Strict Requirements
Although the government has not publicly revealed the full list of approved companies, several firms have confirmed they are progressing through the licensing process.
SCEX (Sacom Crypto Asset Exchange) is reportedly among the most advanced applicants after completing an initial government evaluation. The company recently increased its charter capital to approximately $14 million to strengthen its financial position ahead of licensing.
Other firms believed to be moving through the process include Vietnam Prosperity Crypto Assets Exchange (CAEX), Techcom Crypto Exchange (TCEX), VIX Crypto Asset Exchange, and Vietnam Digital Assets.
CAEX, which operates within the ecosystem of major Vietnamese lender VPBank, has reportedly secured support from OKX Ventures and HashKey Capital.
Vietnam’s requirements for exchange operators are among the strictest in the region. Regulators reportedly require applicants to hold at least 10 trillion Vietnamese dong - roughly $408 million - in charter capital, while institutional investors must provide at least 65% of initial funding.
Vietnam Plans Heavy Oversight of Crypto Trading
The upcoming framework also introduces taxation and trading restrictions aimed at bringing the market under tighter supervision.
Individual traders will reportedly face a 0.1% tax on every crypto transaction, regardless of whether a trade generates profit or loss. Domestic crypto companies will face a 20% corporate tax on profits, while foreign firms operating through Vietnamese providers will also be taxed.
All transactions during the five-year pilot program must reportedly be settled in Vietnamese dong, reinforcing the government’s effort to maintain monetary oversight.
Authorities are also preparing restrictions on overseas exchanges once domestic trading platforms become operational, potentially limiting access to foreign services like Binance, Bybit, and OKX.
South Korean Crypto Firms Are Already Moving Into Vietnam
Vietnam’s upcoming crypto sector has already attracted strong interest from South Korean firms looking to secure an early position in the market.
Recently, Bithumb signed an agreement with Vietnamese securities company SSID to help develop a local digital asset exchange.
Meanwhile, executives from Dunamu, the parent company of Upbit, reportedly met with officials from Vietnam’s Military Commercial Joint Stock Bank to discuss cooperation on digital asset infrastructure.
The growing foreign interest highlights how significant Vietnam’s regulated crypto launch could become for the broader Asian market in 2026.
