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Vietnam could launch its first official regulated crypto asset market as early as the third quarter of 2026, as authorities move to bring digital asset trading under domestic supervision.
Deputy Finance Minister Nguyen Duc Chi gave the timeline at the Digital Trust in Finance 2026 forum in Hanoi on May 12. He said Vietnam could see the first official activity in its crypto asset market in Q3 under a framework designed to improve safety, transparency and state oversight.
Five Firms Pass Vietnam’s First Screening Round
Vietnam’s Ministry of Finance is working with the Ministry of Public Security and the State Bank of Vietnam to approve companies that can organize and operate digital asset trading platforms. Five firms have passed the initial qualification round to provide services for domestic digital asset trading platforms.
The firms included affiliates of Techcombank, VPBank, LPBank, VIX Securities, and Sun Group. The lineup points to Vietnam leaning on bank-linked and established domestic financial groups rather than offshore crypto exchanges.
Hanoi Wants Crypto Trading on Local Platforms
The pilot is aimed at shifting crypto activity away from foreign exchanges and into licensed domestic platforms. In March, Hanoi was preparing a pilot program for locally operated crypto exchanges while considering limits on overseas crypto trading by Vietnamese citizens.
Officials have framed the move as a way to improve oversight of trading flows, taxation, anti-money laundering controls and capital movement. It would also allow Vietnam to keep more crypto-related activity inside its own financial system.
$200B Trading Volume Drives Onshore Push
Vietnam remains one of the world’s most active crypto markets. Vietnam ranked fourth globally in crypto adoption, with trading volumes involving Vietnamese users exceeding $200 billion in the year through June.
That scale helps explain the push toward a supervised market. Crypto is already widely used in Vietnam, but digital assets are not recognized as legal tender, leaving much of the activity in a gray zone.
Q3 Launch Still Depends on Final Rules
The Q3 target does not mean the full framework is complete. Authorities still need to finalize rules covering licensing, custody, investor eligibility, taxation, trading controls and enforcement.
If the pilot launches on schedule, Vietnam would move from largely informal crypto participation toward a state-supervised digital asset market. For approved local banks, securities firms and platform operators, that could open a new regulated business line. For users, it could mean more formal access, but also tighter oversight and possible limits on foreign platform use.
