Vietnam’s government has greenlit a regulated crypto trading pilot starting September 2025, positioning itself as a key player in Southeast Asia’s digital asset market transformation.
This move by Vietnam may challenge Indonesia’s crypto dominance and stimulate domestic financial innovation.
Vietnam has launched a regulated crypto trading pilot program set for September 2025. A fully developed legal framework is expected by January 2026, marking a notable shift in Southeast Asian crypto policy. This move potentially heightens regional competitiveness.
The program involves the Vietnamese Government with links to the Military Bank and South Korea’s Dunamu. Transitioning from prior restrictive stances, this involves established local banks. The National Assembly’s pivot aims to offer comprehensive oversight and support across banking.
“The pilot period shall last for five years from the effective date of the Resolution” — Vietnamese Government Official Statement, Government Entity, Vietnam.
Vietnam aims to channel existing crypto activity by legalizing trade. Local exchange approval requires a minimum 10 trillion VND capitalization, aimed at institutional stability. Observers anticipate impacts on market activity, realigning with legal structures.
The program mandates domestic control with a foreign ownership cap at 49%. Trading is restricted to Vietnamese dong (VND) settlements, promoting the currency. This regulatory environment may stabilize crypto markets and bolster regional fintech status.
Vietnam’s approach contrasts with Indonesia’s, which regulates through Bappebti, favoring local platforms. By focusing on domestic regulations, Vietnam establishes higher entry barriers and a unique strategy compared to Korea’s Upbit compliance model.
Expert analysis from Kanalcoin suggests Vietnam’s policy may shape how governance and DeFi products develop. While local issuance faces restrictions, institutional stability and legal clarity are expected to guide foreign investment and partnerships.
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