What is Vietnam's crypto exchange pilot program?

Vietnam's crypto asset exchange pilot program is a sandbox mechanism under Government Resolution 05/2025/NQ-CP. It allows up to 5-10 qualified enterprises to operate legal crypto exchanges during a 2-year pilot period, under the supervision of the Ministry of Finance and the State Bank of Vietnam. It is expected to begin in Q3/2026.

What are the conditions for a crypto exchange to be licensed in Vietnam's pilot?

According to Resolution 05/2025, enterprises must meet: (1) Minimum chartered capital of 10,000 billion VND (~$400M); (2) At least 35% capital contribution from a credit institution licensed by the SBV; (3) International-standard KYC/AML systems; (4) User asset insurance; (5) Management team with fintech/crypto experience; (6) Technology infrastructure meeting Level 4 security standards with BCTC.

Which 5 exchanges are applying for crypto licenses in Vietnam?

As of April 2026, 5 entities are applying or preparing to apply: (1) CAEX — a joint venture between VPBankS, LynkiD, OKX Ventures, and HashKey Capital, with $380M capital; (2) VIX Securities — securities company VIX linked with international partners; (3) Sun Group affiliates — real estate conglomerate expanding into fintech; (4) Techcombank — Vietnam Technological and Commercial Joint Stock Bank; (5) LPBank — Loc Phat Commercial Joint Stock Bank. CAEX currently leads with the largest capital and strongest international backing.

Which coins will be tradable on Vietnamese exchanges?

The pilot phase is expected to only allow trading of mainstream crypto assets: Bitcoin (BTC), Ethereum (ETH), and some stablecoins (USDT, USDC). Small altcoins, meme coins, and unverified tokens will not be listed initially. The Ministry of Finance will publish a specific list before the pilot begins. Exchanges can propose additional tokens after 6 successful months of the pilot.

What should Vietnamese investors prepare before Q3/2026?

Prepare in 5 steps: (1) Open bank accounts at banks backing the exchanges (VPBank, Techcombank, LPBank); (2) Prepare a chip-embedded ID card + eKYC ready; (3) Review your current crypto portfolio — consider moving BTC/ETH from offshore exchanges to Vietnamese ones; (4) Learn about the 0.1% tax (Circular 32/2026); (5) Follow news from DauTuTaiSanMaHoa.com for the latest licensing timeline updates.

How are Vietnamese crypto exchanges different from offshore exchanges like Binance?

Key differences: (1) Legal status: Vietnamese exchanges are licensed, Binance is not; (2) VND deposits/withdrawals: Vietnamese exchanges use direct bank transfers, Binance uses P2P; (3) Tax: Vietnamese exchanges automatically deduct 0.1%, Binance requires self-declaration; (4) Protection: Vietnamese exchanges have an investor protection fund, Binance does not; (5) Listed tokens: Vietnamese exchanges have a limited initial list, Binance has 350+ coins; (6) Fees: not yet announced, expected to be competitive with offshore exchanges.

What happens if the pilot fails?

Resolution 05/2025 stipulates a 2-year pilot period (expected Q3/2026 — Q3/2028). If the pilot fails to meet KPIs (trading volume, investor protection, AML compliance), the government may: (1) Extend the pilot by 1 year; (2) Narrow the scope (fewer exchanges, fewer coins); (3) Suspend the program. Investor assets on exchanges are still protected and can be withdrawn to personal wallets.

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Vietnam's Crypto Exchange Pilot Program Q3/2026: Everything Investors Need to Know

Cập nhật: 8 tháng 5, 2026

Vietnam's crypto exchange pilot program starts Q3/2026. 5 exchanges applying for licenses, 10,000 billion VND requirement, timeline, which coins will be listed. Full guide.

MãHóa AI2026-04-19T00:00:00.000Z8 phút đọc1,739 lượt xem

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Nguồn tham khảo

[1]Nghị quyết 05/2025/NQ-CP
[2]Luật Công nghệ số 2025
[3]Bộ Tài chính — Thông tư 32/2026

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