Story perspectives

Vietnam Launches Regulated Crypto Trading Pilot Program in 2025

9/10/2025

Summary

Story summary

Vietnam will implement a five-year pilot program for regulated cryptocurrency trading starting September 9, 2025.
All crypto transactions must occur in Vietnamese dong, and only domestic companies can operate.
Exchanges need a minimum capital of 10 trillion dong (about $379 million), with 65% from institutional investors.
Foreign ownership in trading platforms is capped at 49%.
The Ministry of Finance will assess the program's success by 2030 to shape future regulations.

History

Historical Context

In 2014, the People's Bank of China banned Bitcoin transactions, signaling a shift in cryptocurrency regulation. Recently, Vietnam's Ministry of Finance mandated that all crypto transactions occur in Vietnamese dong, requiring a minimum capital of 10 trillion dong (approximately $379 million). This initiative reflects a global trend toward regulating digital currencies, aiming to ensure domestic control and limit foreign ownership.

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Story summary

Vietnam will implement a five-year pilot program for regulated cryptocurrency trading starting September 9, 2025.
All crypto transactions must occur in Vietnamese dong, and only domestic companies can operate.
Exchanges need a minimum capital of 10 trillion dong (about $379 million), with 65% from institutional investors.
Foreign ownership in trading platforms is capped at 49%.
The Ministry of Finance will assess the program's success by 2030 to shape future regulations.

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