Vietnam eyes Q3 2026 start for regulated crypto market

Vietnam could see its first regulated crypto asset market activity in the third quarter of 2026, Deputy Finance Minister Nguyen Duc Chi told the Digital Trust in Finance 2026 forum, adding that the market would operate under a framework aimed at safety and transparency.

The timeline follows regulatory steps this year to open a licensing pathway for domestic crypto trading platforms. In March, five companies passed an initial qualification round to pursue the country’s first regulated exchange, including affiliates of Techcombank, VPBank and LPBank, stockbroker VIX Securities and conglomerate Sun Group. Officials have said licensing and operational approvals will precede live trading.

In September 2025, authorities launched a five-year pilot requiring crypto transactions to be conducted in Vietnamese dong through locally registered firms. The pilot is designed to move activity from offshore venues to onshore platforms and allow regulators to monitor transaction flows and participant behavior within Vietnam’s jurisdiction. Despite the pilot, many traders continue to use offshore exchanges such as Binance, OKX and Bybit, often comparing them when searching for the best crypto exchange options available.

Tax and market structure details are under development. In February, authorities drafted a tax framework that would treat crypto transactions similarly to securities trading, proposing a 0.1% individual tax on each crypto transaction processed through a licensed provider. The proposal is part of efforts to integrate crypto into existing financial rules and revenue systems.

Chi described the crypto plan as part of a wider digital economy strategy that aims to expand digital activity to at least 30% of GDP by 2030, achieve cashless payments for 80% of transactions and increase enterprise participation in innovation.

On adoption, Vietnam ranked fourth in Chainalysis’ 2025 Global Crypto Adoption Index and third in Asia for on-chain value received, with an estimated $200 billion in transactions over the 12 months to June 2025.

We believe that, as early as the third quarter, Vietnam could witness the first official activities of its crypto asset market, operating under a framework designed to ensure safety and transparency,

Nguyen Duc Chi told the forum.

Market participants that passed initial qualification rounds are preparing for licensing and the operational steps needed to accept dong-denominated trading onshore. Observers will watch whether the draft tax rules and pilot program conditions remain unchanged as authorities finalize the licensing process ahead of the third-quarter 2026 target.