Vietnam Develops Regulatory Framework for Crypto Asset Market

The Vietnamese government is making significant strides in developing a regulatory framework for its emerging crypto asset market.

Deputy Prime Minister Nguyen Van Thang recently met with Ben Zhou, co-founder and CEO of Bybit, to discuss the country's plans for establishing a pilot framework for digital asset trading and regulation.

The government has issued Resolution No. 05/2025/NQ-CP to implement the pilot crypto asset market, recognizing its significant growth potential but also substantial risks that require effective oversight.

Thang emphasized the importance of protecting investors while addressing concerns related to money laundering, fraud, and other illegal activities.

The government is seeking support from reputable international companies, including Bybit, in areas such as legal and regulatory development, transaction monitoring, technology infrastructure, and workforce training.

Thang noted that participation in the market will be subject to strict requirements related to capital adequacy, technological capacity, system security standards, and industry experience.