Vietnam is poised to launch its first regulated cryptocurrency trading market, with official activities potentially starting as early as the third quarter of 2026. This announcement came from Deputy Minister of Finance Nguyen Duc Chi during the Digital Trust in Finance 2026 forum in Hanoi on May 12.
The Ministry of Finance, in collaboration with the Ministry of Public Security and the State Bank of Vietnam, is currently processing licensing for digital asset trading platforms. Five companies have passed an initial screening stage: affiliates of major banks Techcombank, VPBank, and LPBank, along with securities firm VIX Securities and conglomerate Sun Group. These firms would form the backbone of a domestic, regulated crypto market.
The move forms part of Vietnam's broader five-year crypto pilot program, which began in September 2025. Under the upcoming framework, licensed exchanges will be required to support trading in Vietnamese dong, implement robust anti-money laundering controls, and adhere to strict reporting standards. "As early as the third quarter, Vietnam could witness the first official market activity under rules built for safety and transparency," Deputy Minister Chi stated.
Vietnam currently ranks fourth in Chainalysis' 2025 Global Crypto Adoption Index, trailing only India, the United States, and Pakistan. In the 12 months ending June 2025, the country recorded approximately $200 billion in onchain value. Despite this high activity, a significant portion of Vietnamese traders rely on offshore exchanges like Binance, OKX, and Bybit due to a lack of local regulated options. The government's push aims to redirect trading flows to licensed platforms, giving authorities better oversight and tax collection opportunities.
In parallel, officials are developing tax, accounting, and auditing regulations for crypto service providers. Early proposals included a 0.1% tax on individual crypto transactions via licensed platforms. The Q3 2026 target signals Vietnam's transition from an informal, unregulated market to a structured ecosystem that could serve as a model for other high-adoption nations.
