Vietnam Approves First-Ever Regulated Crypto Trading Program - Historic Milestone for Digital Assets

Vietnam just shattered regulatory barriers by greenlighting its first official cryptocurrency trading framework—finally bringing digital assets out of the shadows and into the mainstream financial fold.

Government-Backed Legitimacy

The approval signals a seismic shift from Vietnam's previously cautious stance, now positioning the nation as a forward-thinking player in Asia's rapidly evolving crypto landscape. Regulators have crafted a structured program that balances innovation with investor protection—a move that could set the template for other emerging markets.

Market Impact and Opportunities

Local traders and international exchanges are already scrambling to capitalize on the newly legitimized ecosystem. Expect increased liquidity, reduced regulatory uncertainty, and a potential influx of foreign investment—because nothing attracts capital like government stamps of approval, even in the 'decentralized' world.

Finance traditionalists are probably clutching their pearls, but let's be real—this is how you modernize a financial system without waiting for legacy institutions to catch up.

— Cointelegraph (@Cointelegraph) September 9, 2025

Strict Rules Under the Pilot Program

The program allows only Vietnamese-owned companies to participate and requires all crypto issuance, trading, and settlement to be conducted in, banning foreign currency use. Foreign ownership in exchanges will be capped at 49%.

Crypto platforms must also meet, with at least 65% funded by institutional investors such as banks or securities firms.

Unlike most markets, Vietnam’s framework mandates that tokens issued under the program must beinstead of stablecoins, reflecting the government’s risk management approach.

Market Context

Vietnam is one of the world’s fastest-growing crypto markets. According to Chainalysis, the country ranked, with an estimatedand a market size exceedingdespite the lack of regulation.

Officials said the trial framework will allow them to monitor the sector under clear rules before permanent laws take effect. A new law passed in June will come into force in, officially recognizing and integrating digital assets into the national financial system.

Transition for Crypto Traders

Once licenses are issued, traders will have six months to migrate to regulated platforms. Unauthorized trading will be deemed illegal thereafter. Access will initially be restricted to existing crypto holders and foreign institutional investors, with new retail entrants likely excluded.

While the pilot program aims to foster innovation and align with Vietnam’s national strategy to prioritize blockchain technology, analysts warn that thecould push some traders toward overseas crypto exchanges offering greater freedom.

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