Vietnam Limits Crypto Exchange Pilot to Five Licensed Firms
Vietnam’s Ministry of Finance (MoF) announced a pilot program for crypto asset exchanges. The program will allow a maximum of five licensed enterprises. This follows the Government’s Resolution No. 05/2025/NQ-CP issued on September 9, 2025. The resolution mandates the pilot implementation of the crypto asset market in Vietnam. The MoF is drafting regulations to govern this market.
Deputy Minister of Finance Nguyen Duc Chi confirmed the limit during a government press briefing on October 6. He said the pilot would maintain a strict cap despite hopes for wider business interest.
Key Regulatory Focus Areas
The pilot program will last five years, starting from September 2025. It aims to regulate cryptocurrency trading in Vietnam. The Ministry of Finance is working on specific decrees for the program.
- Defining tax policies for crypto asset transactions
- Establishing fees and charges related to crypto activities
- Developing accounting standards for businesses in the pilot market
- Coordinating with government bodies like the Ministry of Public Security and the State Bank of Vietnam
This coordination will help finalize licensing procedures for crypto exchanges.
Next Steps and Timeline
Mr. Chi said the MoF plans to implement the regulatory framework immediately. The goal is to license and launch eligible businesses before 2026. As of October 6, the MoF had not received any formal proposals from businesses seeking to join the pilot program.
