Vietnam plans to prohibit citizens from using overseas cryptocurrency exchanges and advance the pilot program for licensed domestic platforms.

Techub News reported, according to The Block, the Vietnamese Ministry of Finance is drafting regulations to prohibit its citizens from trading on overseas cryptocurrency platforms, while advancing a pilot program for licensing domestic crypto exchanges. This move addresses the risk of capital outflow due to the popularity of cryptocurrencies and stablecoins. Chainalysis data shows that Vietnam's crypto transaction volume exceeded $200 billion in the 12 months ending June 2025, ranking fourth globally on the Crypto Adoption Index. Crypto assets have been integrated into scenarios such as cross-border remittances, savings, and gaming. Currently, five institutions, including Techcombank, VPBank, affiliates of LPBank, securities firm VIX Securities, and conglomerate Sun Group, have passed the first round of qualification review. The pilot requires applicants to have a minimum paid-up charter capital of 10 billion Vietnamese dong (approximately $4 million), with a foreign ownership cap of 49%.