Vietnam Launches Crypto Exchange Pilot programme
Vietnam is taking steps to regulate its crypto market. The Ministry of Finance plans to license a few exchanges under a new five-year pilot program. This move aims to bring crypto trading under official control.
The country wants to regulate crypto issuance, trading, and payments. Deputy Minister of Finance, Nguyen Duc Chi, said only five exchanges will be allowed to operate during this phase. No applications have been received yet, but the goverment expects strong interest.
to enforce the pilot, the government is drafting detailed plans. These include tax policies, transaction fees, accounting standards, and anti-money laundering regulations. The Ministry is working with other institutions to finalize licensing procedures.
The pilot program aims to bring Vietnam’s crypto activity onshore. despite high adoption rates, most trading has been offshore. by licensing a few exchanges, the government hopes to tap into an estimated 17 million traders.Annual transaction volumes exceed $100 billion, with much flowing through foreign exchanges.
The program also targets stronger integration between crypto and the local financial system. Licensed exchanges will be required to offer trading directly in Vietnamese dong,tying digital assets more closely to the national economy.
