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Techub News reports that Vietnam's HHP Digital Asset High-Tech Center has signed an agreement with Singapore's digital financial infrastructure company Embed Financial Group Holdings (EFGH) to jointly establish a joint venture named VNL1. The joint venture will invest approximately $8 million, aiming to build a national-level blockchain commodity traceability infrastructure in Vietnam. VNL1 will operate as an Ethereum Layer 2 settlement layer to support the Vietnamese government's regulations concerning commodity identification, verification, and traceability. Furthermore, the two parties also signed a framework agreement involving five digitalization projects, covering the fintech platform V-Fintech, the tourism self-service kiosk V-TOK, the commodity pricing infrastructure V-ICEX, the AI computing center GDCAI, and the Ho Chi Minh City financial integrated zone project V-FIT. This collaboration marks a critical step for Vietnam in utilizing blockchain technology to achieve industrial digital transformation and compliant regulation.
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%.
Techub News reported, according to Reuters, Vietnam's Ministry of Finance plans to launch a pilot for licensed cryptocurrency exchanges this month, restricting domestic users from overseas trading and strengthening capital supervision. Five enterprises have passed the preliminary review, including affiliates of Techcombank, VPBank, LPBank, VIX Securities, and Sun Group. The pilot period is 5 years, with a maximum of 5 licensed exchanges, a minimum registered capital of 10 trillion Vietnamese dong (approximately $379 million), and foreign ownership not exceeding 49%. The Ministry of Finance is drafting regulations that propose banning citizens from using overseas platforms, with violators facing fines of up to 100 million Vietnamese dong (approximately $3,800). The ban will take effect 6 months after the first licenses are issued, potentially forcing over 17 million cryptocurrency holders to exit platforms like Binance and Bybit.
Techub News, according to the Hanoi Times, in the draft notice on tax policies for crypto asset trading, transfer, and transactions issued by the Vietnamese Ministry of Finance, crypto asset transfer and trading activities are classified as non-taxable activities for Value-Added Tax (VAT). The draft stipulates that individual investors must pay personal income tax at a rate of 0.1% per transaction, consistent with the current securities trading tax rate. For institutional investors registered in Vietnam and profiting from crypto asset transfers, the corporate income tax rate is 20%.
Techub News reported, according to Cryptonews, the Vietnamese Ministry of Finance issued a resolution this week to launch a pilot program for the official licensing system of crypto asset trading platforms, aiming to bring the industry into a regulatory framework. The resolution stated that the Vietnam State Securities Commission will be responsible for the issuance, adjustment, and revocation of operating licenses for crypto asset trading platforms and has published application guidelines. Applicants must be domestic Vietnamese companies with a minimum paid-up capital of 100 trillion Vietnamese dong (approximately $3.8 billion) and must meet requirements regarding infrastructure, governance, cybersecurity, and professional staffing. The report indicated that about 10 securities companies and banks have expressed interest in entering the market, including institutions such as SSI, VIX, MBBank, Techcombank, and VPBank.
Techub News reports, according to Cryptopolitan, Vietnamese police have arrested five suspects in the Da Nang area for allegedly operating a cryptocurrency scam ring, involving approximately 14 billion Vietnamese dong (about $532,800). The group allegedly operated from a base in Cambodia, posing as a trading platform similar to "Nasdaq," and created a large number of fake accounts through channels like Zalo and Telegram, impersonating investment experts to lure victims into depositing funds and falsely reporting profits. Police stated that the funds were transferred through multiple bank accounts after being misappropriated and were ultimately converted into cryptocurrency to conceal their origin.
Techub News, according to Techinasia, Vietnam's Ministry of Finance has released a draft decree for public comment, proposing fines for individuals and organizations trading digital assets on unlicensed platforms. Individuals could face fines of up to 30 million VND ($1,200), while organizations could be fined up to 200 million VND ($7,584) for violations related to digital asset transactions. The draft also stipulates fines ranging from 70 million VND ($2,654) to 200 million VND ($7,584) for violations such as breaching foreign ownership rules, providing misleading disclosures, or failing to report information to regulators. Issuing products to ineligible investors, insurance non-compliance, and failure to disclose information as required will face the most severe penalties. Domestic individuals using unlicensed platforms may be fined from 10 million VND ($379) to 30 million VND ($1,138). Fines for unauthorized advertising, unlicensed business activities, and operating beyond the licensed scope can reach up to 200 million VND ($7,584). Foreign investors violating fund transfer regulations or making false transaction declarations will face fines of up to 100 million VND ($3,815). Service providers failing to verify investor identities may be fined from 50 million VND ($1,900) to 70 million VND ($2,680).
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