Vietnam eyes Q3 launch for regulated crypto asset market

Vietnam could start official activity in its regulated crypto asset market as early as the third quarter of 2026. 

Deputy Minister of Finance Nguyen Duc Chi gave the update at the Digital Trust in Finance 2026 forum in Hanoi on May 12. 

Chi said “as early as the third quarter” Vietnam could witness the first official market activity under rules built for safety and transparency. The statement points to a more active phase for a market that has already entered a pilot period.

Five firms move through licensing process

The Ministry of Finance is working with the Ministry of Public Security and the State Bank of Vietnam to approve five companies for digital asset trading platform services. VnEconomy said the step forms part of Vietnam’s wider digital finance plan. 

Reuters earlier reported that affiliates of Techcombank, VPBank and LPBank were among firms that passed an initial screening round. VIX Securities and Sun Group were also listed in the process. 

Additionally, the new framework follows Vietnam’s five-year crypto market pilot. Earlier reports noted that licensed platforms will need to support trading in Vietnamese dong from 2026, with reporting and anti-money laundering duties included. 

The policy aims to move part of Vietnam’s crypto activity away from offshore exchanges. Reuters reported that many local traders still use platforms such as Binance, OKX and Bybit because domestic regulated options remain limited. 

Crypto adoption adds pressure for clear rules

Vietnam ranked fourth in Chainalysis’ 2025 Global Crypto Adoption Index, behind India, the United States and Pakistan. The country also ranked fourth for centralized service value received and sixth for DeFi value received. 

Chainalysis said APAC was the fastest-growing region for onchain crypto activity in the 12 months ending June 2025. It cited India, Vietnam and Pakistan as key markets driving growth across centralized and decentralized services. 

Vietnam’s legal framework is still in its pilot stage. VnEconomy reported in March that the framework will be reviewed during the five-year period and adjusted as market conditions change. 

Officials are also working on tax, accounting and auditing rules for crypto service providers, issuers and trading firms. The Q3 target shows Vietnam is preparing to test regulated crypto trading while keeping oversight within local financial channels.