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Vietnam’s Deputy Finance Minister Nguyen Duc Chi has said that the country might introduce its first officially regulated crypto asset trading as early as the third quarter of 2026.
The government announced at the Digital Trust in Finance 2026 forum in Hanoi that it had approved five companies to operate digital asset exchanges.
Vietnam’s calculated entrance into the digital asset industry
Vietnam’s Deputy Finance Minister Nguyen Duc Chi announced during the Digital Trust in Finance 2026 forum in Hanoi that, in coordination with the Ministry of Finance, the Ministry of Public Security and the State Bank of Vietnam, five approved digital asset platform operators had been selected.
“We believe that, as early as the third quarter, Vietnam could witness the first official activities of its crypto asset market, operating under a framework designed to ensure safety and transparency,” Chi said at the forum.
Vietnam has been preparing for this regulatory move for quite some time. At the start of 2026, the Law on Digital Technology Industry took effect, and it formally legalized crypto assets.
Prior to that, in September 2025, the government issued Resolution No. 05/2025/NP-CP to pilot the crypto asset market, and later in December, the Finance Minister established a Management Board for crypto asset trading under the State Securities Commission.
Vietnam has about 17 million residents participating in its crypto market. Ownership peaked at 21 million at certain points. Cryptopolitan reported that blockchain analytics firm Chainalysis estimated that crypto transaction volume in Vietnam reached about $220 billion to $230 billion between July 2024 and June 2025.
Cryptopolitan reported that Vietnamese traders opened an estimated 20 million wallets on offshore platforms like Binance, Bybit, and OKX. They have six months to link their wallets with government-approved platforms or face criminal penalties.
Which digital asset companies hold a Vietnam license?
While the government has not yet publicly named all five approved companies, several major players have confirmed they are in the final stages of the licensing process.
SCEX (Sacom Crypto Asset Exchange) has completed the first round of evaluation conducted by the Ministry of Finance. The company raised its charter capital to VND 360 billion (approximately $14 million) to strengthen its financial capacity.
Other qualified applicants include VIX Crypto Asset Exchange, Vietnam Prosperity Crypto Assets Exchange (CAEX), Techcom Crypto Exchange (TCEX), and Vietnam Digital Assets, affiliated with the Sun Group ecosystem.
CAEX, which operates within the ecosystem of VPBank, one of the country’s largest private lenders, has secured backing from OKX Ventures and HashKey Capital to help meet the government’s strict capital requirements.
Cryptopolitan reported that the government set steep requirements for exchange operators. For instance, applicants must hold at least 10 trillion dong (roughly $408 million) in charter capital, roughly three times the requirement for banks.
Institutional investors must provide at least 65% of the starting capital, and foreign ownership is capped at 49%. Individual crypto traders will face a 0.1% personal income tax on the total value of each transaction, which is the same rate currently charged for stock market trades.
The tax applies whether or not a transaction leads to a gain or a loss. Vietnamese companies will pay 20% corporate income tax on crypto profits, while foreign organizations conducting crypto asset transfers through local service providers will pay a 0.1% tax on revenue per transfer.
All transactions during the five-year pilot must be conducted in Vietnamese dong, and the government is preparing to restrict access to overseas platforms like Binance, OKX, and Bybit once domestic exchanges become operational.
South Korea is moving on Vietnam’s market
Cryptopolitan recently reported that South Korean exchanges are also making moves. Bithumb signed a memorandum of understanding with SSID, a subsidiary of SSI Securities, Vietnam’s largest securities firm, to build a local virtual asset exchange.
Meanwhile, Dunamu’s Vice Chairman Kim Hyung-nyeon met with Vietnam’s Military Commercial Joint Stock Bank (MB Bank) to discuss cooperation on building a digital asset exchange during President Lee Jae-myung’s economic delegation in April this year.
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