# Vietnam Crypto Exchange Pilot Program

**Published:** 2026-06-18T12:14:51.298Z  
**Topic:** Dao Crypto  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/0fc7515a-2d71-40d4-94b2-470b1aa5d16d

Vietnam launches a crypto exchange pilot in March, requiring 10,000 billion VND capital and banning foreign platforms, as the market hits $200B in volume.

Vietnam is set to launch a pilot program for domestic crypto exchanges in March under Resolution 5/2025, requiring a minimum capital of 10,000 billion VND and banning trading on foreign platforms [1]. The move aims to regulate a market that ranks fourth globally in crypto adoption, with estimated transactions exceeding $200 billion in the 12 months leading to June 2025 [1].

| At a glance | |
|---|---|
| Pilot Start | March (Resolution 5/2025) [1] |
| Capital Requirement | 10,000 billion VND [1] |
| Market Volume | >$200 billion (12 months to June 2025) [1] |
| Max Fine | 3 billion VND for organizations [3] |

## Regulatory Framework and Licensing

The Ministry of Finance has begun accepting applications, with five companies—including subsidiaries of Techcombank, VPBank, LPBank, VIX Securities, and Sun Group—passing initial evaluations [1]. To qualify, exchanges must be Vietnamese legal entities with at least 65% institutional ownership, mandating that over 35% of capital comes from banks, securities firms, or insurers [1]. The government plans to limit the number of licenses to manage risk while ensuring competition, though the exact number remains unclear [1].

To enforce compliance, the Ministry is drafting penalties that could fine unlicensed service providers up to 2 billion VND and suspend operations for up to five months [3]. Organizations organizing unlicensed markets face fines of 1.5 to 2 billion VND, while additional penalties for other securities-related crypto violations could reach 3 billion VND for organizations and 1.5 billion VND for individuals [3].

## Market Context and Security Risks

While the government seeks to retain trading fees and potentially generate over $800 million annually with a 0.1% transaction tax, it is simultaneously drafting rules to prohibit citizens from using foreign platforms like Binance [1]. This shift comes as authorities seek to control capital outflows and address risks associated with stablecoins and unregulated trading [1].

Security threats persist despite the regulatory push. Although crypto fraud incidents in Vietnam decreased by 15% in 2022 to 64,080 cases, security firm Kaspersky reported a 40% global increase in crypto fraud that year [2]. Scammers are evolving tactics, such as using fake PDFs to solicit withdrawal fees for non-existent cloud mining accounts, exploiting the perception of crypto as a rapid wealth generator [2].

## What to watch
*   The issuance of the first operating licenses for the five companies that passed initial review [1].
*   The finalization of the decree banning transactions on foreign crypto platforms [1].
*   The implementation of the proposed 0.1% transaction tax [1].

The pilot program represents Vietnam's first comprehensive legal framework for digital assets, attempting to balance the economic potential of a high-volume market with the need for capital control and investor protection.

## Sources
1. BBC — [Doanh nghiệp chạy đua kinh doanh tiền mã hóa khi Việt Nam lên kế hoạch cấm giao dịch ở nền tảng nước ngoài](https://www.bbc.com/vietnamese/articles/c4g4nk605gwo)
2. VietNamNet — [Lừa đảo tiền mã hóa nở rộ trên toàn cầu, giảm mạnh tại Việt Nam](https://vietnamnet.vn/lua-dao-tien-ma-hoa-giam-manh-tai-viet-nam-2133590.html)
3. VietNamNet — [Tổ chức vi phạm về tài sản mã hóa có thể bị phạt tới 3 tỷ đồng](https://vietnamnet.vn/to-chuc-vi-pham-ve-tai-san-ma-hoa-co-the-bi-phat-toi-3-ty-dong-2401173.html)

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Cite as: TrendWatcher, "Vietnam Crypto Exchange Pilot Program", https://www.trendwatcher.in/article/0fc7515a-2d71-40d4-94b2-470b1aa5d16d