ChainCatcher report, according to The Block, Vietnam’s Ministry of Finance is drafting regulations to prohibit Vietnamese citizens from trading on overseas cryptocurrency platforms, while advancing a pilot program for domestic cryptocurrency exchange licenses. This move stems from regulatory concerns over rising capital outflow risks due to the growing popularity of cryptocurrencies and stablecoins. Chainalysis data shows that Vietnam’s cryptocurrency trading volume exceeded $200 billion in the 12 months ending June 2025, ranking fourth globally in the Crypto Adoption Index, with crypto assets now integrated into cross-border remittances, savings, and gaming. Five institutions—including Techcombank, VPBank, LPBank affiliates, securities firm VIX Securities, and conglomerate Sun Group—have passed the initial eligibility review. The pilot requires applicants to have a minimum paid-up registered capital of 10 billion Vietnamese dong (approximately $400 million), with a foreign ownership cap of 49%.
Vietnam Proposes Ban on Overseas Crypto Exchanges, Aims to Pilot Local Platforms
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Summary
Vietnam proposes a ban on overseas crypto exchanges while advancing a pilot for licensed local platforms. The Ministry of Finance aims to curb capital outflows tied to risk-on assets such as crypto and stablecoins. Chainalysis data shows Vietnam’s crypto trading volume reached $200 billion over the past year, ranking fourth globally. Five firms, including Techcombank and VPBank, have passed initial screenings. The pilot requires $4 billion (100 billion VND) in capital and caps foreign ownership at 49%.
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