According to Deputy Minister of Finance Nguyen Duc Chi, who spoke at the Digital Trust in Finance 2026 seminar, Vietnam’s regulated crypto asset market would see its first formal activity as early as the third quarter of 2026.
“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,” Chi said Tuesday, according to VnEconomy.
Country Accelerates Efforts
The remarks are the latest development in Vietnam’s ongoing endeavor to formally regulate one of the most dynamic crypto markets in Asia. Earlier this year, authorities in the country paved the door for local crypto asset trading firms to apply for licenses.
This drive is part of a larger plan for Vietnam’s digital economy, which aims to make up 30% of GDP by 2030, have 80% of transactions done digitally, and have 40% of businesses actively engaged in innovation.
There was a scramble in March to establish the first legal cryptocurrency exchange in Vietnam, and five businesses allegedly made it through the preliminary qualifying phase. Members of the Techcombank, VPBank, and LPBank private banking affiliates, the VIX Securities stockbroker, and the Sun Group conglomerate were among the businesses involved.
Vietnam proposed a 0.1% individual tax on all cryptocurrency transactions handled by a licensed provider in February as part of a tax system that would treat crypto transactions similarly to regular securities trading.
According to Chainalysis’ 2025 Global Crypto Adoption Index, Vietnam is one of the top four global crypto markets, just after Pakistan, India, and the US.
Vietnam has also become an important center for Asian cryptocurrency trading, with an anticipated $200 billion in transactions in the twelve months leading up to June 2025, putting it third in terms of onchain value.