Vietnam is taking its biggest step yet toward regulating digital assets, launching a pilot scheme designed to bring crypto trading under formal supervision.
Summary
- Vietnam has rolled out a five-year pilot program to regulate its domestic crypto market.
- Licensed platforms will be required to trade directly in Vietnamese dong from 2026.
- The move builds on the country’s July passage of the Law of Digital Technology Industry and the launch of its national blockchain, NDAChain.
Vietnam has launched a pilot program to bring its local crypto market under official oversight. Per local media on September 23, the initiative is part of the government’s effort to redirect billions in trading volume from offshore platforms into a regulated framework and strengthen the domestic market.
The push comes in response to the concentration of local crypto activity outside the country. Local surveys recently found that Vietnam has one of the world’s highest adoption rates, with an estimated 17 million people engaged in trading and annual volumes topping $100 billion. Yet, much of this activity takes place on exchanges such as Binance and Bybit, which are based in jurisdictions like Hong Kong and Singapore.
To counter that trend, the pilot introduces domestic licensing for exchanges, reporting standards, and anti-money laundering rules. Starting in 2026, licensed platforms will also be required to provide direct trading in the nation’s native currency, dong.
The five-year pilot builds on the government’s recognition of digital assets under the Law of Digital Technology Industry passed in June, which mandates licenses for all crypto platforms and service providers operating in the country.
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Alongside the regulatory changes, the government also launched its own blockchain in July, called NDAChain. The permissioned layer-1 network is designed to support tokenization of assets such as bonds, invoices, and carbon credits, creating new fundraising channels while giving regulators greater oversight of digital transactions.
Vietnam targets stronger crypto adoption and local market growth
Officials see the regulated market pilot as a way to capture tax revenue, protect investors, and integrate digital assets more closely with the domestic economy.
The pilot program is also expected to create opportunities for Bitcoin and other digital assets to serve in insurance, pension funds, and other domestic institutions.
By tying digital assets to Vietnam’s financial infrastructure, the government hopes to create a regulated market that supports economic growth while reducing reliance on foreign exchanges.
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