Vietnam Begins To Restrict Overseas Crypto Trading

"The Ministry of Finance is drafting rules that would prohibit Vietnamese citizens from trading on foreign exchanges such as Binance, OKX, and Bybit. The move aligns with a five-year pilot program designed to bring crypto trading under domestic supervision while limiting capital outflows."

"Data from Chainalysis shows Vietnamese users transacted more than $200 billion in digital assets in the 12 months through June 2025, placing the country fourth on its global adoption index. Crypto usage in Vietnam spans remittances, savings, and gaming, reflecting integration into daily financial activity."

"The licensing regime sets a high bar for entry. Applicants must meet a minimum charter capital requirement of 10 trillion Vietnamese dong, or roughly $400 million, and comply with strict standards covering governance, cybersecurity, and anti-money laundering controls. Foreign ownership is capped at 49%, signaling a preference for domestic control over key market infrastructure."

Vietnam's Ministry of Finance is drafting regulations to prohibit citizens from trading on foreign cryptocurrency exchanges like Binance, OKX, and Bybit. The country plans to launch domestically licensed digital asset exchanges as part of a five-year pilot program. Vietnam ranks fourth globally in cryptocurrency adoption, with users transacting over $200 billion in digital assets in the 12 months through June 2025. The proposed framework permits only locally licensed platforms to operate, requiring users to migrate from international exchanges. Authorities cite oversight strengthening, fraud reduction, and revenue retention as policy objectives. At least five firms have qualified for exchange licenses, including affiliates of major Vietnamese banks. Licensing requirements include a minimum charter capital of 10 trillion Vietnamese dong ($400 million) and strict governance, cybersecurity, and anti-money laundering standards. Foreign ownership is capped at 49%.

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