Overview
- A government resolution issued in February paves the way for a pilot of domestically run digital-asset exchanges as soon as this month.
- A March 12 finance ministry document shows five applicants advanced past an initial screening: affiliates of Techcombank, VPBank and LPBank, plus VIX Securities and Sun Group.
- Sun Group and VPBank confirmed they filed for licences, while the finance ministry said it would not discuss specific applicants.
- Regulators are drafting rules that would prohibit Vietnamese nationals from trading on overseas crypto platforms in an effort to curb capital flight.
- Vietnam ranks fourth in Chainalysis’s Global Crypto Adoption Index with transactions topping $200 billion, yet most local trading still occurs on Binance, OKX and Bybit as digital assets are not recognised as legal payment and key supervisory and tax rules are still being developed.