Vietnam Opens Five-Year Crypto Market Pilot With Strict Local Control
Vietnam Opens Five-Year Crypto Market Pilot With Strict Local Control
- Vietnam launched a strict five-year crypto trading pilot, requiring platforms to meet high capital thresholds and limit foreign ownership.
- Licensed platforms must settle in dong and meet institutional equity requirements, while existing Vietnamese crypto holders will have six months to migrate.
- The pilot marks a broader shift as Vietnam pushes for a regulated, high-KYC crypto ecosystem amid growing global engagement.
Vietnam launched a tightly managed five-year pilot for crypto trading on September 9, setting high entry barriers for platforms and limiting token sales to foreign investors.
The government’s resolution requires Vietnamese-incorporated operators to hold at least 10 trillion dong in paid-in capital, cap foreign ownership at 49%, and secure at least 65% of equity from institutions such as banks, brokerages, insurers, fund managers, or qualified tech companies.
Pilot Opens With Strict Capital And Ownership Rules
As per the new rules, local settlement must occur in dong, and issuers may sell only to foreign investors. The resolution was a controlled opening of a fast-growing market and outlined the core thresholds in detail.
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Issuers must disclose prospectuses before any sale. Vietnamese investors who already hold crypto will gain a migration path to licensed platforms.
Once the first license is issued, residents will have six months to move to approved venues; after that window, authorities plan to sanction trading on unlicensed platforms under existing law as the pilot proceeds.
The pilot is part of a broader legal pivot. In June, lawmakers passed the Law on Digital Technology Industry, which recognizes digital assets, distinguishes “crypto assets” from other virtual instruments, and strengthens AML and CTF controls ahead of an effective date of January 2026.
The move signals intent to channel activity into supervised rails and to define business conditions for operators, as BeInCrypto reported at the time.
Vietnam’s NAPAS 24*7 real-time network, broad QR acceptance, tokenized NFC initiatives, and high-KYC touchpoints support this push.
Moreover, Vietnam ranks fourth globally in the 2025 Global Crypto Adoption Index, cementing its strong grassroots usage and rising institutional flows across both centralized services and DeFi.
Meanwhile, the country’s engagement with global crypto players has also grown. Bybit’s leadership met with Vietnam’s Finance Ministry in April to discuss collaboration on legal frameworks and a national digital asset exchange. This signals rising alignment between local regulators and international market makers.
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