Vietnam Begins to Restrict Overseas Crypto Trading, Domestic Licensing Race Accelerates
Vietnam plans to ban trading on foreign crypto exchanges, pushing users toward newly licensed domestic platforms.Summary
Vietnam's Ministry of Finance is drafting rules to prohibit citizens from trading on overseas cryptocurrency platforms like Binance, OKX, and Bybit, as part of a five-year pilot program to bring crypto trading under domestic supervision. This move follows Vietnam's high ranking in global crypto adoption, with over $200 billion in digital asset transactions in the year leading up to June 2025. The new framework will only permit locally licensed exchanges to operate, requiring users to migrate their activities. At least five firms, including affiliates of major banks, are competing for these licenses, which require a substantial minimum charter capital of roughly $400 million and strict compliance standards. Authorities aim to reduce fraud and keep transaction revenue domestic, though this may limit access to global markets. The first licensed exchanges are anticipated to launch as early as March 2026.
(Source：Bitcoin Magazine)