Vietnam will fine domestic investors up to 50 million VND (1,900 USD) for trading crypto assets through unlicensed platforms under a new decree governing the country’s pilot digital asset market.

Vietnam is accelerating efforts to pilot its crypto asset market, driven by the formal entry of international exchanges and the rapid rollout of tax and accounting frameworks, paving the way for operations to begin.

Global cryptocurrency platform OKX has announced a strategic investment in Vietnam Prosperity Digital Asset Exchange Joint Stock Company (CAEX), marking a significant step into Vietnam’s emerging digital asset market.

Experts believe that licensing Vietnam’s first crypto asset exchange will serve as a crucial catalyst for attracting foreign capital in a more formal and effective way.

Nearly 200 experts and regulators gathered to discuss how Vietnam can safely trial a regulated crypto market.

Deputy Minister Nguyen Duc Chi said that following the issuance of Resolution No. 05/2025/NQ-CP on piloting a crypto asset market in Vietnam, the ministry has been urgently preparing for implementation.

Over 17 million Vietnamese are trading cryptocurrency abroad, prompting the government to push for a regulated domestic crypto market.

The government has officially issued a resolution to pilot a digital asset market, outlining a five-year roadmap. This marks a bold move by Vietnam, accompanied by strict regulatory measures, even as many countries remain cautious.

The Da Nang city People’s Committee has approved the Basal Pay, the country’s first crypto asset conversion project, operating within the city’s controlled fintech sandbox environment.