Vietnam Takes a Major Step Towards Regulating Digital Assets
Vietnam has introduced a significant pilot program aimed at bringing its local crypto market under official supervision, marking a major step towards regulating digital assets in the country. The initiative is part of the government’s efforts to redirect billions in commercial volume from offshore platforms to a regulated framework and strengthen the domestic market. According to local media, the program is a response to the concentration of local crypto activities outside the country, with an estimated 17 million people involved and annual volumes reaching $100 billion.
The pilot program introduces domestic licensing for exchanges, reporting standards, and anti-money laundering rules. From 2026, licensed platforms must also provide direct trade in the native currency of the country, the Vietnamese Dong. This move builds on the recognition of digital assets by the government, as outlined in the law of digital technology adopted in June, which prescribes licenses for all crypto platforms and service providers operating in the country.
Regulatory Changes and Blockchain Development
In addition to the regulatory changes, the government has also launched its own blockchain, called Ndachain, in July. The approved Layer 1 network supports the tokenization of assets such as bonds, invoices, and CO2 credits, creating new fundraising channels while providing supervisory authorities with oversight of digital transactions. The introduction of Ndachain is a significant development in Vietnam’s crypto landscape, demonstrating the government’s commitment to embracing digital assets and blockchain technology.
Officials see the regulated market pilot as a means of achieving tax revenue, protecting investors, and integrating digital assets more into the domestic economy. The pilot program is also expected to offer opportunities for Bitcoin and other digital assets to be used by insurance, pension funds, and other domestic institutions. By binding digital assets to Vietnam’s financial infrastructure, the government hopes to create a regulated market that supports economic growth while reducing dependence on foreign exchanges.
Goals and Expectations
The five-year pilot program aims to bring the crypto trade under formal supervision, providing a regulated framework for the local market. The government’s goal is to create a more transparent and secure environment for investors, while also generating tax revenue and promoting economic growth. With the introduction of Ndachain and the regulatory changes, Vietnam is taking a significant step towards becoming a major player in the global crypto market.
For more information on Vietnam’s regulated crypto market pilot, visit https://crypto.news/vietnam-rolls-out-5-year-regulated-crypto-market-pilot/
