Vietnam is on track to activate its first regulated crypto asset trading platforms as early as the third quarter of 2026, according to statements from Deputy Minister of Finance Nguyen Duc Chi.

Chi made the remarks at the Digital Trust in Finance 2026 forum held in Hanoi on May 12. He stated that the country expects initial official operations under a new framework built for safety and transparency.

Five operators advance toward licensing

The government has already selected five companies that passed initial qualification rounds. These include entities linked to major local banks such as Techcombank (TCEX),VPBank (CAEX),LPBank, stockbroker VIX Securities, and the Sun Group conglomerate. Additional applicants like SCEX have increased their capital to meet requirements.

Operators face strict standards, including minimum charter capital of around 10 trillion Vietnamese dong (approximately $408 million). At least 65% of starting capital must come from institutional investors, with foreign ownership limited to 49%. All trading during the initial five-year pilot must occur in Vietnamese dong through locally registered platforms.

Tax framework and transition rules

Authorities drafted a tax approach in February that treats crypto similarly to securities. Individual traders would pay 0.1% tax on the total value of each transaction processed through licensed providers, regardless of profit or loss. Companies face 20% corporate income tax on gains, while foreign organizations pay 0.1% on revenue from transfers.

Current crypto users, estimated at 17 million with peaks near 21 million, will have six months after domestic platforms launch to shift activity to approved exchanges. Access to offshore platforms may face restrictions afterward.

Part of larger digital economy push

The regulated market forms one piece of Vietnam’s strategy to grow its digital economy to at least 30% of GDP by 2030. Other targets include 80% cashless transactions and over 40% of enterprises engaged in innovation. A crypto pilot program began in September 2025, and the Law on Digital Technology Industry took effect earlier in 2026.

Interest from outside the country is already visible. South Korean platforms such as Bithumb and Dunamu have explored partnerships with local firms to establish operations in Vietnam.

Bringing volume onshore

While Vietnam shows strong grassroots adoption, the majority of trading still happens outside formal oversight. The new framework aims to channel existing demand — estimated in the hundreds of billions of dollars annually — into supervised domestic venues. This should improve monitoring, reduce risks, and support broader financial goals.

Officials continue work on final details. The Ministry of Finance, State Bank of Vietnam, and Ministry of Public Security are coordinating the rollout.