Vietnam approves 5-year pilot for regulated crypto trading platforms
Vietnamese authorities have authorized a five-year pilot program to launch regulated cryptocurrency trading in the country.
Under the framework, only Vietnamese companies will be permitted to establish trading platforms and issue tokens, according to a government decree reported by Bloomberg.
These tokens must be backed by real estate, excluding both securities and fiat currencies. Services will be targeted toward foreign investors, with all transactions conducted in Vietnamese dong.
Strict capital and ownership requirements
To qualify, exchanges must maintain at least 10 trillion dong ($379 million) in capital, of which 65% must come from institutional investment. Additionally, at least two registered entities—such as banks, securities firms, or fund managers—must jointly own over 35% of the exchange operator. Foreign ownership is capped at 49%, and both institutional and individual investors may engage with only one licensed provider. Account opening on approved platforms will be allowed for both Vietnamese nationals and foreign investors holding crypto assets.
Part of Vietnam’s broader digital asset legalization
The pilot marks a continuation of Vietnam’s push toward formalizing its crypto sector, following the government’s June 2025 decision to legalize digital assets, with regulations set to take effect on January 1, 2026. Vietnam already ranks fourth globally in crypto adoption, according to Chainalysis, highlighting strong retail and institutional interest in the sector. By imposing strict backing and ownership rules, the government aims to attract foreign capital while ensuring transparency and domestic control over platforms, positioning Vietnam as a tightly regulated but rapidly growing hub for digital asset investment.
Recently we wrote that lawmakers in Washington are moving forward with President Donald Trump’s plan to create a Strategic Bitcoin Reserve and federal digital asset stockpile.
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