Vietnam’s crypto adoption growth is accelerating at an impressive pace, as the country is actively diving into implementing regulations that promote homegrown crypto initiatives. Reinforcing this move, the authorities have planned to draft new rules blocking Vietnamese users from accessing overseas crypto platforms such as Binance and OKX.
Vietnam encourages local firms to launch crypto services
When a firm builds a base for its employees to grow, employees will legally use the opportunity to expand the firm’s services and enhance their careers. Likewise, the Vietnamese government is actively building proper regulations and encouraging private Vietnamese companies to launch licensed crypto exchanges.
As such, several firms, including banks and fintech platforms, are competing to become the first firm offering licensed crypto operators in the country.
The country’s Finance Ministry has reviewed a document showing five prominent banks have passed the first qualification stage to offer domestically licensed crypto exchanges. This includes LPBank, VIX Securities, Techcombank, VPBank, and Sun Group.
Last month, the government announced about launching a pilot scheme for local digital asset exchanges beginning in March.
In brief, with full energy, the Vietnamese government is shifting users from offshore crypto trading to regulated local crypto trading, aiming to boost more crypto adoption in the region than before.
Vietnam legalizes crypto in 2025
Earlier, digital assets, including crypto, were legally in a gray area. Citizens owned crypto, traded, and stored it in wallets; however, there was no proper regulatory framework to guide the industry.
In June 2025, the National Assembly of Vietnam passed the Law on Digital Technology Industry, and made it effective in January 2026, a goal that has made the country move forward with other crypto-friendly countries.
The new law recognizes digital assets as legal property, with proper classification for the assets. Predominantly, the law divides digital assets into crypto assets and virtual assets.
The Law on Digital Technology Industry empowers the government to make rules for the proper licensing of exchanges, crypto service providers, and custodians, tax framework for transactions, cybersecurity requirements, and enhancing financing security.
