Vietnam Crypto Licences Draw Five Firms as Overseas Platform Ban Looms

Five Vietnamese companies, including affiliates of Techcombank, VPBank, LPBank, VIX Securities, and Sun Group, have reportedly passed an initial qualification round to launch the country's first licensed crypto exchanges. This move is part of a broader effort by Vietnamese authorities to regulate the growing crypto market onshore and potentially ban nationals from using overseas platforms due to concerns over capital outflow. Vietnam ranks fourth globally in crypto adoption, but most trading currently relies on offshore exchanges. The country previously defined crypto as property but banned its use as legal tender. Authorities are also drafting a tax framework that would impose a 0.1% transaction tax on individuals using licensed providers, treating crypto similarly to securities trading.

(Source：Cointelegraph)