Vietnam Embraces Cryptocurrency with Launch of Regulated Market

Vietnam has taken a decisive step toward formalizing its cryptocurrency ecosystem with the launch of a five-year pilot program for regulated digital asset trading. The move follows the passage of the Law on Digital Technology Industry in June 2025, which grants legal recognition to crypto assets for the first time. Starting January 1, 2026, platforms must obtain domestic licenses and provide direct VND gateways.

The country's crypto adoption ranks among the highest globally, with an estimated 17 million Vietnamese traders—fueled by a tech-literate population and widespread smartphone use. Chainalysis placed Vietnam fourth in its 2025 Global Crypto Adoption Index, reflecting a market that has operated largely informally despite previous regulatory warnings.

This shift represents a dramatic evolution from the State Bank of Vietnam's 2014 Bitcoin warnings and subsequent prohibitions. The new framework aims to bring oversight to what has become a $100 billion informal trading sector while capitalizing on Vietnam's established position in digital asset adoption.