Vietnam eyes Q3 2026 launch for regulated crypto market

Vietnam could witness the first official activity within its regulated crypto asset market as early as the third quarter of 2026, according to Deputy Minister of Finance Nguyen Duc Chi.

Speaking at the Digital Trust in Finance 2026 forum, Chi said the government is preparing a framework aimed at ensuring transparency, safety and stronger oversight across the country’s rapidly expanding cryptocurrency sector.

“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, according to local media outlet VnEconomy.

The announcement marks another major step in Vietnam’s effort to formalise one of Asia’s most active crypto markets, as authorities continue building regulatory structures for digital assets and licensed trading platforms.

Vietnam pushes ahead with crypto regulation

Earlier this year, regulators opened a licensing pathway for domestic crypto asset trading platforms, allowing selected firms to compete for approval to operate the country’s first regulated cryptocurrency exchange. The framework launched in January. The State Securities Commission oversees it, while the Ministry of Finance sets the licensing rules. It is set to run for five years and initially permits about five exchanges to operate under strict supervision. The goal is to improve oversight, limit capital outflows, and strengthen consumer protection.

In March, five Vietnamese companies reportedly passed the initial qualification round. The list included affiliates linked to private banks Techcombank, VPBank and LPBank, alongside brokerage firm VIX Securities and conglomerate Sun Group.

The regulated crypto market initiative forms part of Vietnam’s wider digital economy strategy, which aims to make the digital economy contribute at least 30 per cent of gross domestic product by 2030.

Government targets also reportedly include conducting 80 per cent of transactions cashlessly and increasing the number of innovation-focused enterprises nationwide.

Vietnam drafted crypto tax framework

In February, the Vietnamese government created a plan for a 0.1 percent tax on individual crypto transactions handled by licensed providers. This would treat digital asset trades like traditional securities transactions.

The proposed tax structure is seen as part of a broader effort to encourage crypto activity to shift from offshore exchanges toward locally regulated platforms. Despite the regulatory push, most Vietnamese crypto traders still rely heavily on international exchanges such as Binance, OKX and Bybit.

Vietnam remains a global crypto hotspot

Vietnam continues to rank among the world’s most active cryptocurrency markets. According to Chainalysis’ 2025 Global Crypto Adoption Index, Vietnam ranked fourth globally in crypto adoption, behind India, the United States and Pakistan.

The country has become a key crypto trading centre in Asia. It ranks third in the world for on-chain transaction value received. An estimated $200 billion in crypto-related transactions was recorded in the 12 months ending June 2025.

To bring more trading activity onto domestic platforms, Vietnam launched a five-year crypto pilot programme in September 2025. Under the initiative, all crypto transactions are required to be conducted in Vietnamese dong through locally registered companies.

Firms compete to launch first local crypto exchanges

Meanwhile, Vietnam is moving to establish its first licensed cryptocurrency exchanges as authorities seek to regulate trading in one of the world’s most active crypto markets. The government plans to launch a pilot programme for locally operated digital-asset platforms, with five companies, including affiliates of Techcombank, VPBank, LPBank, VIX Securities, and Sun Group. Having passed an initial qualification round, according to a Finance Ministry document reported by Reuters.